New Delhi, Apr 28, (CXO Media): Snabbit has raised $56 million in a Series D funding round as competition intensifies in India’s instant home services market. The round saw participation from Susquehanna Venture Capital, Mirae Asset Venture Investments, Bertelsmann India Investments, Nexus Venture Partners, Lightspeed and FJ Labs.
The startup said it will use the capital to expand into more cities, strengthen its presence in existing markets and improve technology and operations. Founded in 2024, Snabbit has raised four rounds within about 15 months, taking its total funding to over $112 million.
Snabbit currently operates in Mumbai, Delhi NCR, Pune, Hyderabad and Bengaluru. The company reported handling over 40,000 jobs daily, compared with about 400 daily jobs a year ago, and has crossed one million monthly service requests across around 140 micro-markets.
The funding comes as competition grows among instant home service platforms. Morgan Stanley estimates show combined monthly users of major players crossing 10.4 million in March, with Urban Company leading the segment, followed by Pronto and Snabbit.
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