Mumbai-based home services startup Snabbit is reportedly in the final stages of raising $20 Mn (INR 170 Cr) in a Series B funding round led by Lightspeed Ventures, sources told Inc42. Existing backers Elevation Capital and Nexus Venture Partners, along with several angel investors, are also expected to participate.
Sources confirmed that Snabbit has received a term sheet from Lightspeed, and the deal is likely to close soon. The funds will be used to expand Snabbit’s presence across Mumbai, where it currently offers home services like cleaning, laundry, and kitchen help within 15 minutes of booking.
Founded in 2024 by Zepto’s former Chief of Staff, Agarwal, Snabbit raised $5.5 Mn in Series A earlier this year to grow its footprint in micro-markets. The company has positioned itself at the intersection of quick commerce and utility services, offering both scheduled and instant service bookings.
The Race for 10-Minute Home Services Heats Up
Snabbit operates in an increasingly competitive space. IPO-bound Urban Company recently introduced ‘Insta Help’, promising 10-minute househelp. Similarly, Delhi-NCR-based startups like Pronto (backed by Bain Capital Ventures) and Broomees are innovating with rapid home assistance models.
The 10-minute economy, once led by grocery players, is now spreading into categories like fashion, healthcare, and services, with startups like Slikk, Zing, and WAAYU targeting niche segments.
With this Series B, Snabbit is gearing up to be a major contender in the hyperlocal quick-service revolution, particularly in the tech-enabled home utility sector.
