India, May 26 -- Mumbai-based Snabbit, which provides home services in 10 minutes, is in talks to raise about $20 Mn (about INR 170 Cr) in its Series B funding round, which will be led by Lightspeed Ventures, sources told Inc42.

The discussions are in advanced stages and the round is expected to be finalised soon, they added.

"Snabbit has received the term sheet from Lightspeed Ventures. If things go well, they will be leading the round, while existing investors will also participate," said one of the sources.

Existing investors Elevation Capital and Nexus Venture Partners will participate in the round, along with a number of angel investors.

While Snabbit declined to comment, Lightspeed Ventures didn't respond to Inc42's queries on t...