Snabbit, an on-demand home services provider, is in talks to raise $100 million-120 million from new and existing investors at a likely valuation of $500 million-550 million, three people with knowledge of the development said.
“The company has begun talks to raise a new funding round. Investors feel this is a new consumer category that is likely to see phenomenal growth over the next few years,” one person said.
The company, which raised funds just a month and a half ago, declined to comment on the development.
Founded by former Zepto executive Aayush Agarwal in 2024, Snabbit connects urban households to trained and verified house help on demand—typically within about 10 minutes—for chores such as dishwashing, laundry, bathroom and kitchen cleaning, with the option to schedule slots and bundle tasks in a single hourly booking.
With this, Snabbit will be heading into its fifth funding round since it was founded. In October, Snabbit raised $30 million in Series C funding, led by Bertelsmann India Investments, at a valuation of about $180 million, according to Tracxn. The company has so far raised $56 million in total funding and counts Lightspeed, Elevation Capital and Nexus Venture Partners among its investors.
Growth in the quick service market has been sharp over the past few months with early adoption of these services in the tier-1 market. The company clocks about ₹8 crore in monthly gross revenue, or about $12 million in annualized revenue, on the back of demand for domestic help, Agarwal told Mint in an interview in October. The company plans to move into verticals such as home cooks, childcare and elder care over the coming months.
The competition
Funded companies in home services include Urban Company, Pronto and Broomies.
Urban Company came out with a ₹1,900 crore initial public offering in September. Pronto raised about $2 million from Bain Capital Ventures, while Broomies raised roughly $1.1 million from Social Alpha, 100X.VC and angel investors including Peyush Bansal.
Before 2019, startups including Housejoy, LocalOye, Helpr and Zimmber tried to build scale in home services, but few have broken out into large companies.
The Indian home services market is a fast-growing segment, with a total addressable market of about $60 billion in FY25, according to a Redseer report in September. It is expected to expand to about $100 billion by FY30, driven by urbanization and increasingly busy lifestyles.
Within this, the online segment remains relatively small at about $475 million but is scaling up quickly. It is projected to grow at a compound annual growth rate (CAGR) of 18-22% through FY2030 as consumers increasingly seek convenience, Redseer added.