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A little fastan Indian on-demand home services startup, has closed a $56 million funding round, confirming TechCrunch’s view. previous report.
Co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund and Bertelsmann India Investments, the company’s Series D round values the Bengaluru-based startup at around $350 million, according to a person familiar with the matter. It is from $180 million about six months ago. Existing investors Nexus Venture Partners and Lightspeed also participated, alongside FJ Labs. The company has raised about $112 million in total.
Founded in 2024, Snabbit said it now processes more than 40,000 jobs daily across a network of more than 15,000 workers across five cities, offering services such as cleaning, dishes and laundry, as demand for fast, on-demand home services increases in urban India.
The startup said the amount it loses on each order has decreased by about 50%, while its customer acquisition costs have decreased by about 65%.
Snabbit’s fundraising comes as investor interest in India’s on-demand home services sector intensifies, with rival Pronto also in talks to raise new capital and publicly traded Urban Company, reporting over 1 million monthly bookings.
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