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Snabbit has become one of the pioneer quick-service apps focused on home services on-demand. The company just announced a $5.5 million Series A round, which represents investor confidence in its innovative approach to simplifying urban living.
About the Company
Founded in 2024, Snabbit is a platform that connects households to professionally trained people for all types of home works. These services include general cleaning, dishwashing, and laundry. Professionals will be available by the hour and will arrive within 15 minutes of booking. Snabbit has solved the growing trend of reliable and punctual services around Indian urban centers.
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Funding Details
Elevation Capital, a renowned venture capital firm specializing in transformative startups, led the $5.5 million Series A fund round. For the VC firm, pre-existing investor Nexus Venture Partners also took part, and notable angel investors include Vidit Aatrey and Sanjeev Barnwal (Meesho), Gaurav Munjal (Unacademy), and Niraj Singh (Spinny). Such diverse investors can be said to cater to the broader appeal and potential of Snabbit’s business.
Expenses it incurred:
Snabbit will use the newly raised capital for several strategic initiatives:
- Customer Acquisition: Targeted marketing campaigns to increase user adoption and retention.
- Geographical Expansion: Services to new micro-markets across Mumbai in the coming months, thereby broadening its customer base.
- Talent Acquisition: Skilled professionals to enhance operational efficiency and technological innovation.
These steps are designed to strengthen Snabbit’s position in the competitive quick-service industry and lay the groundwork for future growth.
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Market Opportunity
The demand for easy and reliable home services is rising among the urban population of India. This trend can be attributed to increasing disposable incomes, time constraints, and the tendency to outsource household work. Snabbit’s solution is best placed to leverage this opportunity with a seamless and efficient offering suited to the needs of urban living.
Competitive Landscape
In India, the on-demand home services market is broken up into various players competing for market share. Snabbit stands unique in its hyperlocal approach with guaranteed 15-minute service delivery post-scheduling. Snabbit also employs a full-stack model: sourcing, training, and managing professionals ensures consistent quality of service, which is unmatched in its competitor’s marketplace model.
Leadership Perspective
Aayush Agarwal, founder and CEO of Snabbit, said, “India is an incredible market with immense untapped potential for high-frequency home services. Over the past few months, we’ve focused on understanding customer pain points and building a scalable, game-changing model.
The response has been highly encouraging—we’ve acquired thousands of customers within a small serviceable radius, driven by strong word-of-mouth. This is just the beginning of what we see as a massive opportunity. We’re not merely building a business; we’re creating a new category poised for significant innovation and growth.”
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Investor Insights
Manish Advani, vice president at Elevation Capital, said Snabbit’s unique value proposition: “Snabbit’s platform for quick, on-demand, and affordable home services delivered through a hyperlocal network of professionals stands out in the home services sector. Leveraging a unique model to deliver reliable and high-quality services swiftly, Snabbit is set to disrupt the industry.” ECONOMIC TIMES
Future Outlook
With the infusion of new capital and a clear strategic roadmap, Snabbit is well positioned to expand its footprint across Mumbai and potentially other urban centers in India. The company’s commitment to quality service, rapid delivery, and customer satisfaction positions it favorably to capture a significant share of the burgeoning on-demand home services market.
Summary
Snabbit, the Mumbai-based quick-service app, has raised $5.5 million in Series A funding, led by Elevation Capital and joined by Nexus Venture Partners, with participation from several prominent angel investors. Snabbit will be expanding across Mumbai while enhancing operational and technological capabilities through this investment.
