India’s urge for food for immediate comfort — as soon as confined to meals and grocery supply — is increasing into home assist. That shift has helped Snabbit, an on-demand home-help startup, safe $30 million in new funding and raise its valuation to $180 million, up from $80 million 5 months in the past.
The all-equity Sequence C spherical — Snabbit’s third fundraise in 9 months — was led by Bertelsmann India Investments, with participation from current backers Lightspeed, Elevation Capital, and Nexus Enterprise Companions. The most recent infusion brings the startup’s complete funding to $55 million.
Snabbit’s contemporary funding follows a pointy rise in exercise, with the Bengaluru-based startup rising from about 1,000 jobs a day in Might to greater than 10,000 every day bookings. The corporate crossed 300,000 complete orders in October, founder and CEO Aayush Agarwal stated in an interview with TechCrunch.
Based in 2024, Snabbit gives a variety of on-demand residence companies for city households, together with cleansing, dishwashing, laundry, and kitchen prep by way of a 100% women-led fleet of 5,000 specialists. The startup operates by way of a hyperlocal community of educated employees stationed round dense residential clusters, promising service inside 10 minutes.
At the moment, Snabbit serves 40 micro markets throughout 5 main cities, specifically Mumbai, Bengaluru, Gurugram, Noida, and Pune. It plans to broaden its presence in these cities and enter Hyderabad, Chennai, Delhi, and Calcutta very quickly, Agarwal advised TechCrunch.
Snabbit has served greater than 300,000 prospects, up from 25,000 in Might, and expects so as to add one other 100,000 as early as subsequent month. Most of its customers are between 30 and 40 years previous, together with bachelors and dealing professionals.
A few of Snabbit’s prospects are those that don’t want full-time home assist however desire an advert hoc answer. “We’re principally taking inefficiency within the mannequin and plugging that, quite than saying, ‘Hey, this was taking place offline, and now we’ll do it on-line’,” stated Agarwal.
The startup experiences a 30–35% retention price and tasks to achieve annual recurring income of $11 million this month. Furthermore, it has a buyer acquisition value of “nicely beneath” ₹500 (roughly $6), Agarwal advised TechCrunch.
Snabbit’s companies are priced at round ₹150 (about $2) per hour, with a mean ticket measurement of round ₹240 (roughly $3).
Employees on the platform earn between ₹25,000–₹30,000 (roughly $284–$340) a month, relying on the hours they work. The startup has additionally lowered the typical strolling distance for its employees between two jobs from 300 meters to 250 meters, giving them extra time to serve prospects.
Snabbit shouldn’t be alone within the race to supply fast, on-demand residence companies in India. City Firm pioneered the pattern and was later adopted by startups comparable to Broomees and Pronto. City Firm now plans to double down on on the spot residence companies to remain forward of rising competitors, although Snabbit says it doesn’t see that as a problem.
“In a hyper-local enterprise, you don’t win pan India, you don’t win cities, you win micro markets. And right now, out of the micro markets the place we each [Snabbit and Urban Company] are current, Snabbit is main in additional micro markets as a result of we have now taken a really constructive technique to construct depth versus construct breadth,” Agarwal stated.
The brand new funding will assist Snabbit strengthen its presence and broaden into high-frequency classes comparable to cooking, baby care, and aged care.