New Delhi, May 29 -- Quick service app Snabbit said Thursday it has secured $19 million (about Rs 162 crore) in a Series B funding round led by venture capital firm Lightspeed, with existing VC investors Elevation Capital and Nexus Venture Partners also participating.
The round comes roughly four months after the Mumbai-based startup raised $5.5 million in Series A funding led by Elevation, with participation from Nexus.
Snabbit said the fresh funding will help the company scale across India's top metro cities and launch its home services in over 200 smaller markets over the next nine months.
"While ride-hailing transformed mobility and e-commerce reshaped fashion, regular home services remained largely undigitized. With Snabbit, we're solving for trust, quality and speed, all at the tap of a button," said Aayush Agarwal, founder and CEO, Snabbit. "The need is universal, the category is massive, and we're just getting started," he added.
Agarwal founded the startup in 2024. He previously served as chief of staff at Zepto, driving its fundraising efforts and leading strategic projects. Snabbit last year secured around $1 million from Nexus, which has also backed Zepto.
Snabbit operates a mobile application which offers on-demand home services within 10 minutes through its hyperlocal network operating in dense residential clusters. The company competes with the likes of Urban Company, which offers services, based on pre-booking, such as spa and salon, repair work, and cleaning, among other things. Elevation Capital is also an investor in Urban Company.
"Snabbit's hyperlocal model is cracking the code in one of India's most complex and underserved categories. Their rapid growth underscores both the scale of unmet demand and their ability to convert a trust-deficit sector into a seamless, on-demand experience," said Manish Advani, principal at Elevation Capital.
Published by HT Digital Content Services with permission from VC Circle.