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

Snapbit, an Indian on-demand home services startup, has closed a $56 million funding round, confirming a previous TechCrunch 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 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 comes as investor interest in India’s on-demand home services sector grows, with rival Pronto also in talks to raise fresh capital and publicly traded Urban Company reporting more than 1 million monthly bookings.