NEW DELHI, Apr 28: Home services platform Snabbit has raised USD 56 million (about Rs 530 crore) in a funding round co-led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments, the company said on Tuesday.
Existing investors Nexus Venture Partners and Lightspeed also participated in the round.
Snabbit Founder and CEO Aayush Agarwal told PTI that the company plans to utilise the fund to build a strong balance sheet as it is gearing up to expand service in micro markets and foray into new categories in near future.
“We have raised USD 56 million in Series D round funding, led by SIG, along with Mirae and Bertelsmann. This also marks Miraeas first investment from the Unicorn Growth Fund that was recently launched. We already have strong investors like Lightspeed, Elevation, and Nexus. Bertelsmann, which led our previous round, is doubling down significantly,” Agarwal said.
Global marketplace investor FJ Labs also participated in the funding round as a new investor.
With this fresh round, the company has raised a total fund of USD 112 million till date.
“There is strong investor backing, but also greater responsibility to build what we believe can be a generational company that changes how Indian households operate. This round gives us more than three years of runway. That includes total capital, not just the raised capital,” Agarwal said.
Snabbit claims to have over 10 million monthly active users that translate into category-leading throughput at 40,000 jobs per day from a limited footprint, underscoring superior utilisation, repeat demand, and operational density over surface-level reach.
“We currently live in three major cities-Delhi NCR, Bangalore, and Mumbai, with smaller presence in Hyderabad and Pune. Over the next 12 months, we aim to have a significant presence in at least the top 10 metro cities in India,” Agarwal said.
Snabbit is planning to start a new category of home cooks, childcare, elderly care, and drivers.
“Right now, I’m particularly excited about home cooks. We have run a successful pilot and are now scaling it, starting with Bangalore. The idea is simple, home-cooked meals by trained experts (not chefs), like how we approached home cleaning as an unsolved problem,” Agarwal said.
He said that the company’s immediate priority is to focus on scaling the business, expanding across multiple categories, and strengthening unit economics.
“Today, for every 1 mature micro market, there are 7-8 new micro markets being built, which means investments are currently outweighing returns. It will take some time for this equation to turn, as we want to clearly prove the economics of the business and then sustain it over a long period. Alongside this, the priority is to build a high-quality, world-class organisation and team that can support continued scale,” Agarwal said. (PTI)
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