Summary of Snabbit’s Funding Announcement: Snabbit, an on-demand home services app, has raised $5.5 million in a Series A funding round led by Elevation Capital, with participation from Nexus Venture Partners and notable angel investors. This follows the $1 million seed funding the startup secured earlier
in 2024.
Founded by Aayush Agarwal, a former Zepto executive, Snabbit offers quick-access home services such as cleaning, laundry, and dishwashing, with professionals available within 15 minutes. The app operates on a full-stack model, sourcing, training, and managing its workforce while providing workers with stable income and benefits like health insurance.
Currently active in select areas of Mumbai, Snabbit plans to use the new funds to expand its services across India and enhance its operational capabilities. The company has already acquired thousands of customers through word-of-mouth, tapping into the significant demand for high-frequency home services.
Investors praised Snabbit for its innovative, hyperlocal approach and its potential to transform the home services sector, benefiting both consumers and service providers. The startup is seen as a disruptor in an untapped market with immense growth potential.
Funding Boost for On-Demand Service Innovator
Snabbit, an app designed to connect households with professional home service providers, has raised $5.5 million in Series A funding. Elevation Capital led the round, joined by Nexus Venture Partners and prominent angel investors, including Vidit Aatrey, Sanjeev Barnwal, Gaurav Munjal, and Niraj Singh.
The startup previously raised $1 million in seed funding from Nexus Venture Partners earlier in the year.
The Snabbit Solution
Launched in 2024 by Aayush Agarwal, formerly associated with Zepto, Snabbit offers quick access to services like cleaning, laundry, and dishwashing. Users can book skilled professionals on an hourly basis, with a promise of arrival within 15 minutes.
Agarwal highlighted the app’s full-stack operating model, which includes sourcing, training, and directly managing workers. This structure not only ensures a high level of service quality but also provides workers with consistent income and benefits, such as health and accident coverage. Agarwal described Snabbit’s mission as a transformative step for a historically unorganized sector.
Scaling Operations
With operations already established in select Mumbai neighborhoods, Snabbit plans to use the fresh funding to expand its geographic footprint and enhance its workforce. The app’s growth has been fueled by word-of-mouth, attracting thousands of users within its current service areas.
According to Agarwal, India represents an enormous opportunity for frequent home services. He sees Snabbit’s unique approach as a catalyst for innovation and growth within this space.
Investor Perspectives
Manish Advani of Elevation Capital lauded Snabbit’s hyperlocal focus and rapid service delivery model, describing it as a standout in the home services sector. “Their innovative platform is reshaping everyday convenience for Indian households,” he said.
Suvir Sujan from Nexus Venture Partners echoed these sentiments, emphasizing Snabbit’s success in catering to densely populated residential clusters. He credited the startup with disrupting the home services market and creating a mutually beneficial model for customers and service providers alike.
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