Snabbit, a quick services startup, has relocated its headquarters from Mumbai to Koramangala in Bengaluru as it looks to tap into the tech hub’s talent pool and also get closer to venture capital (VC) firms amid growing investor interest in the space, people familiar with the development told Moneycontrol.
Where will Snabbit’s new Bengaluru office be?
Snabbit, which earlier operated out of Powai in Mumbai, has taken up a managed office space spanning 10,000 square feet in Koramangala’s 5th block.
Koramangala has been a popular choice among startup founders, and tech companies, for several years now. Flipkart, one of India’s largest new-age companies, started operations in the area in the early 2000s. Other prominent startups such as Swiggy, Groww and others also began scaling their business from Koramangala during their early days.
What are the other startups that have shifted from Mumbai to Bengaluru?
Ola, a ride-hailing company, was among the first few startups to move to Bengaluru, from Mumbai, several years ago. Since then a slew of companies have followed suit.
More recently, quick commerce startup Zepto, where Snabbit founder Aayush Agarwal used to work earlier, also relocated from Mumbai to Bengaluru as it began growing in size, raised more capital and increased its workforce.
Why are companies relocating from Mumbai to Bengaluru?
Apart from having a deeper pool of tech and product talent, Bengaluru is also home to most venture capital (VC) firms which makes the fundraising process, for startups, a bit smoother.
“Look, Mumbai is a great place and has a lot of hustlers but it doesn’t have the product and tech talent a new-age company needs to hyperscale operations,” a startup founder said.
“If you want to build a startup in today’s time, you have to do it from Bengaluru. It is where the capital is, it is where the ecosystem is and it is where the consumers are. The traffic is a challenge but not a deterrent.”
Snabbit is moving to Bengaluru at a time when industrialists and the state government are at loggerheads over infrastructure issues, traffic woes and other challenges that are crippling the city’s growth.
Snabbit, which has raised over Rs 220 crore from Elevation Capital, Lightspeed, Nexus Venture Partners and others is also prepping to raise more capital so “being closer to VC funds helps as the company gets more visibility and conversations move faster.”
What does Snabbit do?
The company was founded in 2024 and offers trained personnel within 10 minutes for multiple home tasks such as general cleaning, dishwashing, laundry and more. It competes with Urban Company, General Catalyst-funded Pronto, based in Delhi NCR, and Accel-backed Pync in an indsutry that is growing at a rapid pace.
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