Indian startup Snapbit has closed a $56 million round as investor interest in on-demand home services grows

A little quickan Indian on-demand home services startup, has closed a $56 million funding round, confirming a TechCrunch report. Previous report.

Led by Susquehanna Venture Capital, Mirae Asset Venture Investments’ Unicorn Growth Fund, and Bertelsmann India Investments, the company’s Series D round values ​​the Bengaluru-based startup at about $350 million, according to a person familiar with the matter. This is up from 180 million dollars About six months ago. Existing investors Nexus Venture Partners and Lightspeed also participated, along with FJ Labs. The company has raised about $112 million in total.

Snapbit, founded in 2024, said it now processes more than 40,000 jobs a day across a network of more than 15,000 workers in five cities, offering services such as cleaning, dishwashing and laundry as demand for quick, on-demand home services grows in urban India.

The startup said the amount it loses on each order has fallen by about 50%, while its customer acquisition costs have shrunk by about 65%.

Snapbit’s fundraising campaign comes as investors are increasingly interested in the on-demand home services sector in India, with its competitor Pronto. Talks are also underway to raise new capital The publicly traded Urban Company recorded more than 1 million monthly bookings.