Snabbit, a quick services provider, has raised $19 million (around Rs 160 crore) in a fresh round led by Lightspeed with participation from existing backers such as Elevation Capital and Nexus Venture Partners, the company’s founder Aayush Agarwal told Moneycontrol in an interview.
Snabbit offers trained personnel within 10 minutes for multiple home tasks such as general cleaning, dishwashing, laundry and more.
The round comes just four months after the company raised $5.5 million in its Series A round and also days after its arch rival Pronto, a Gurugram-based startup, announced its seed round of $2 million from Bain Capital Ventures.
Apart from companies like Snabbit and Pronto, other companies dealing in the quick commerce space like Slikk and more are becoming a favourite among investors as they continue to innovate and create an additional layer of demand among users.
Agarwal however is not worried about competition. “Be it Urban Company, Pronto, Pync or any other startup, we are not bothered. They have copied what Snabbit built and are currently solving the problems we had solved one year ago,” Agarwal said in the interview.
Even if there are copy-paste businesses and rivals, it all boils down to execution. Snabbit being an early mover in the space means it will have an edge over its peers, he said. “All our rivals came up with the idea only after us. So, it becomes our battle to lose, not their battle to win,” Agarwal added.
He did not shed light on the valuation of the company.
The Mumbai-based company, which has largely focused on a few areas in Bengaluru and Mumbai, will use the capital to aggressively expand to other parts of India.
Snabbit will expand to over 200 micro-markets across metro cities in India in the next nine months, as per Agarwal.
Snabbit was founded in 2024 after Agarwal, a former Zepto employee, quit to start on his own.
Zepto has grown to be one of the hottest consumer internet firms in India, having raised around $2 billion from a clutch of investors.
In fact, Nexus Venture Partners and Lightspeed, key investors in Snabbit also happen to be backers of Zepto, underscoring investor confidence in the space.
“We closed the round in under a week’s time, that should tell you” Agarwal said when asked about the investor sentiment around companies in the space.
Rahul Taneja, Partner at Lightspeed, said Snabbit “is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now.”
“Snabbit continues to execute with clarity and purpose in a space that’s long overdue for change,” said Suvir Sujan, co-founder and Managing Director, Nexus Venture Partners. “They’ve taken a complex, hyperlocal problem and built a scalable, full-stack solution that delivers value to both consumers and professionals.”
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