India’s Snabbit Valuation Doubled To $180m In 5 Months On Its Quick House-help Bet

1 week ago

India’s appetite for instant convenience — erstwhile confined to nutrient and market transportation — is expanding into location help. That displacement has helped Snabbit, an on-demand home-help startup, unafraid $30 cardinal successful caller backing and assistance its valuation to $180 million, up from $80 million 5 months ago.

The all-equity Series C information — Snabbit’s 3rd fundraise successful 9 months — was led by Bertelsmann India Investments, pinch information from existing backers Lightspeed, Elevation Capital, and Nexus Venture Partners. The latest infusion brings nan startup’s full backing to $55 million.

Snabbit’s caller backing follows a crisp emergence successful activity, pinch nan Bengaluru-based startup increasing from astir 1,000 jobs a time successful May to much than 10,000 regular bookings. The institution crossed 300,000 full orders successful October, laminitis and CEO Aayush Agarwal said successful an question and reply pinch TechCrunch.

Founded successful 2024, Snabbit offers a scope of on-demand location services for municipality households, including cleaning, dishwashing, laundry, and room prep done a 100% women-led fleet of 5,000 experts. The startup operates done a hyperlocal web of trained workers stationed astir dense residential clusters, promising work wrong 10 minutes.

Currently, Snabbit serves 40 micro markets crossed 5 awesome cities, namely Mumbai, Bengaluru, Gurugram, Noida, and Pune. It plans to grow its beingness successful these cities and participate Hyderabad, Chennai, Delhi, and Calcutta very soon, Agarwal told TechCrunch.

Snabbit has served much than 300,000 customers, up from 25,000 successful May, and expects to adhd different 100,000 arsenic early arsenic adjacent month. Most of its users are betwixt 30 and 40 years old, including bachelors and moving professionals.

Some of Snabbit’s customers are those who do not want full-time location thief but for illustration an advertisement hoc solution. “We’re fundamentally taking inefficiency successful nan exemplary and plugging that, alternatively than saying, ‘Hey, this was happening offline, and now we’ll do it online’,” said Agarwal.

The startup reports a 30–35% retention complaint and projects to scope yearly recurring gross of $11 cardinal this month. Moreover, it has a customer acquisition costs of “well below” ₹500 (roughly $6), Agarwal told TechCrunch.

Snabbit’s services are priced astatine astir ₹150 (about $2) per hour, pinch an mean summons size of astir ₹240 (roughly $3).

Workers connected nan level gain betwixt ₹25,000–₹30,000 (approximately $284–$340) a month, depending connected nan hours they work. The startup has besides reduced nan mean stepping region for its workers betwixt 2 jobs from 300 meters to 250 meters, giving them much clip to service customers.

Snabbit is not unsocial successful nan title to connection quick, on-demand location services successful India. Urban Company pioneered nan inclination and was later followed by startups specified arsenic Broomees and Pronto. Urban Company now plans to double down connected instant location services to enactment up of rising competition, though Snabbit says it does not spot that arsenic a challenge.

“In a hyper-local business, you don’t triumph cookware India, you don’t triumph cities, you triumph micro markets. And today, retired of nan micro markets wherever we some [Snabbit and Urban Company] are present, Snabbit is starring successful much micro markets because we person taken a very affirmative strategy to build extent arsenic opposed to build breadth,” Agarwal said.

The caller backing will thief Snabbit fortify its beingness and grow into high-frequency categories specified arsenic cooking, kid care, and aged care.