[ad_1]
India’s appetite for instant convenience — once confined to food and grocery delivery — is expanding into house help. That shift has helped Snabbit, an on-demand home-help startup, secure $30 million in new funding and lift its valuation to $180 million, up from $80 million five months ago.
The all-equity Series C round — Snabbit’s third fundraise in nine months — was led by Bertelsmann India Investments, with participation from existing backers Lightspeed, Elevation Capital, and Nexus Venture Partners. The latest infusion brings the startup’s total funding to $55 million.
Snabbit’s fresh funding follows a sharp rise in activity, with the Bengaluru-based startup growing from about 1,000 jobs a day in May to more than 10,000 daily bookings. The company crossed 300,000 total orders in October, founder and CEO Aayush Agarwal said in an interview with TechCrunch.
Founded in 2024, Snabbit offers a range of on-demand home services for urban households, including cleaning, dishwashing, laundry, and kitchen prep through a 100% women-led fleet of 5,000 experts. The startup operates through a hyperlocal network of trained workers stationed around dense residential clusters, promising service within 10 minutes.
Currently, Snabbit serves 40 micro markets across five major cities, namely Mumbai, Bengaluru, Gurugram, Noida, and Pune. It plans to expand its presence in these cities and enter Hyderabad, Chennai, Delhi, and Calcutta very soon, Agarwal told TechCrunch.
Snabbit has served more than 300,000 customers, up from 25,000 in May, and expects to add another 100,000 as early as next month. Most of its users are between 30 and 40 years old, including bachelors and working professionals.
Some of Snabbit’s customers are those who do not want full-time house help but prefer an ad hoc solution. “We’re basically taking inefficiency in the model and plugging that, rather than saying, ‘Hey, this was happening offline, and now we’ll do it online’,” said Agarwal.
The startup reports a 30–35% retention rate and projects to reach annual recurring revenue of $11 million this month. Moreover, it has a customer acquisition cost of “well below” ₹500 (roughly $6), Agarwal told TechCrunch.
Snabbit’s services are priced at around ₹150 (about $2) per hour, with an average ticket size of around ₹240 (roughly $3).
Workers on the platform earn between ₹25,000–₹30,000 (approximately $284–$340) a month, depending on the hours they work. The startup has also reduced the average walking distance for its workers between two jobs from 300 meters to 250 meters, giving them more time to serve customers.
Snabbit is not alone in the race to offer quick, on-demand home services in India. Urban Company pioneered the trend and was later followed by startups such as Broomees and Pronto. Urban Company now plans to double down on instant home services to stay ahead of rising competition, though Snabbit says it does not see that as a challenge.
“In a hyper-local business, you don’t win pan India, you don’t win cities, you win micro markets. And today, out of the micro markets where we both [Snabbit and Urban Company] are present, Snabbit is leading in more micro markets because we have taken a very positive strategy to build depth as opposed to build breadth,” Agarwal said.
The new funding will help Snabbit strengthen its presence and expand into high-frequency categories such as cooking, child care, and elderly care.
[ad_2]
Jagmeet Singh
Source link
