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Quick service app Snabbit raises $5.5 million from Elevation Capital, Nexus Venture Partners

Economic Times

Economic Times · 7m ago

Quick service app Snabbit raises $5.5 million from Elevation Capital, Nexus Venture Partners

Quick service app Snabbit raised $5.5 million in a Series A funding round led by Elevation Capital, with Nexus Venture Partners and prominent angel investors participating. The funds will be used for customer acquisition, expanding in Mumbai, and enhancing operational capabilities. Founded by Aayush Agarwal, Snabbit connects households with trained professionals for on-demand home tasks. The company operates with a full-stack model and aims to explore adjacent service categories like cooking and elderly care.

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Related News

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

VCCircle

VCCircle · 7m ago

Snabbit, BPR Hub, Chelvies Coffee, Postudio grab early-stage funding

Snabbit, a quick-services app, BPR Hub, a compliance management platform, Chelvies Coffee, and Postudio have each secured early-stage funding. Snabbit raised $5.5 million in a Series A round led by Elevation Capital and Nexus Venture Partners. BPR Hub secured $2.6 million in seed funding from Accel and Kae Capital. Chelvies Coffee raised $1 million led by Endurance Capital. Postudio received $1 million in pre-seed funding from Audacity Venture Capital for expansion and development.

Quick service app Snabbit raises $19 million in round led by Lightspeed

Economic Times

Economic Times · 3m ago

Quick service app Snabbit raises $19 million in round led by Lightspeed

Mumbai-based startup Snabbit, a quick service app offering hyperlocal, on-demand home services, has raised $19 million in a funding round led by Lightspeed, with participation from Elevation Capital and Nexus Venture Partners. Founded by Aayush Agarwal, Snabbit aims to expand into new micro-markets and enhance its team, providing rapid services like cleaning and laundry. The company utilizes a full-stack model, ensuring consistent service with time-based pricing and advanced technologies for workforce management.

Quick service app Snabbit raises $19 million in round led by Lightspeed

Economic Times

Economic Times · 3m ago

Quick service app Snabbit raises $19 million in round led by Lightspeed

Snabbit, a quick service app offering hyperlocal, on-demand home services, has secured $19 million in a funding round led by Lightspeed, with Elevation Capital and Nexus Venture Partners participating. The Mumbai-based startup, founded by Aayush Agarwal in 2024, plans to expand into 200 micro-markets and grow its team to meet rising demand. With a full-stack model managing sourcing, training, and deployment, Snabbit aims to transform home services by offering quick, skilled assistance for various household tasks.

Ligthspeed leads Elevation, Nexus-backed Snabbit's Series B round

VCCircle

VCCircle · 3m ago

Ligthspeed leads Elevation, Nexus-backed Snabbit's Series B round

Snabbit, a quick service app based in Mumbai, has raised $19 million in a Series B funding round led by Lightspeed, with participation from Elevation Capital and Nexus Venture Partners. Founded by Aayush Agarwal in 2024, Snabbit offers on-demand home services within 10 minutes through its mobile app. The fresh funding will facilitate the startup's expansion across India's metro cities and over 200 smaller markets, aiming to digitize trust, quality, and speed in home services.

Decoding Snabbit’s Series B round, valuation and captable

Entrackr

Entrackr · 2m ago

Decoding Snabbit’s Series B round, valuation and captable

url: https://entrackr.com/fintrackr/decoding-snabbits-series-b-round-valuation-and-captable-9331453 Content: Quick service platform Snabbit recently announced its $19 million Series B round led by Lightspeed with the participation of existing investors Nexus Venture Partners and Elevation Capital. The board of Snabbit is set to approve the allotment of 65,165 Series B compulsory convertible preference shares at an issue price of Rs 24,914.93 each, to raise Rs 162.35 crore (approximately $19 million), its regulatory filing accessed from Registrar of Companies (RoC) shows. Lightspeed is expected to invest Rs 94 crore ($11 million), while existing investors Nexus Venture Partners and Elevation Capital will contribute Rs 34.18 crore ($4 million) each. According to Entrackr’s estimates, Snabbit will be valued at Rs 684 crore (around $80 million), a 3.5X increase from its $23 million valuation in the previous Series A round. Founded in 2024 by Aayush Agarwal, Snabbit connects households with trained professionals for on-demand home services like cleaning, dishwashing, and laundry. Experts can be booked by the hour and arrive within 10 minutes. The platform currently hosts over 600 professionals, doubling monthly, according to Agarwal. Following the allotment of the new round, Nexus Venture Partners and Elevation Capital will hold 23.69% and 19.92% stake, respectively, while new investor Lightspeed will own 13.75%. Founder Aayush Agarwal will retain a 36.08% stake in the company. The Mumbai-based company has raised over $25 million across 3 rounds including $5.5 million in Series A round led by Elevation and Nexus earlier this year. Snabbit directly competes with the industry leader Urban Company which recently filed its Draft Red Herring Prospectus (DRHP) with SEBI for a Rs 1,900 crore initial public offer (IPO) and also entered into quick commerce with the launch of 15-minute maid booking service, “Insta Help”. Snabbit also competes with another 10-minute house help service startup, Pronto which raised $2 million from Bain Capital at a valuation of $12.5 million.

Unicorn startup Zepto raises another $31.25M in Series E round

IndianStartupNews

IndianStartupNews · 1y ago

Unicorn startup Zepto raises another $31.25M in Series E round

Mumbai-based quick commerce startup Zepto has raised $31.25 million in a Series E funding round led by Goodwater Capital and Nexus Venture Partners. Zepto plans to go public by 2025 and became a unicorn after raising $200 million in funding. The startup promises to deliver groceries in under 10 minutes and currently holds about 20-21% market share in the quick commerce sector. However, Zepto's financial numbers show significant growth in revenue but also indicate high net losses, posing challenges for achieving profitability.

How juicy was Nexus Venture Partners’ third portfolio exit move this year?

VCCircle

VCCircle · 1y ago

How juicy was Nexus Venture Partners’ third portfolio exit move this year?

Nexus Venture Partners has made its third portfolio exit this year by selling a decade-old investment. The venture capital firm, known for its India and US-focused funds, has previously raised over $2 billion and generated $700 million in its last fund. With numerous successful exits this year, Nexus Venture Partners continues to demonstrate its expertise in the venture capital space.

Rapido rolls into unicorn club with $200 million raise at $1.1 billion valuation

Economic Times

Economic Times · 11m ago

Rapido rolls into unicorn club with $200 million raise at $1.1 billion valuation

Bike-taxi startup Rapido has raised $200 million in funding, led by existing investor WestBridge Capital, bringing its valuation to $1.1 billion. The funds will be used to expand Rapido's newly launched four-wheeler taxi service, as well as venture into the quick commerce delivery space using its two-wheeler fleet. Rapido has seen significant growth over the past two years, becoming a market leader in the bike-taxi segment and expanding into three-wheeler and four-wheeler ride-sharing. Nexus Venture Partners, Think Investments, and Invus Opportunities also participated in the funding round.

AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture

Livemint

Livemint · 1m ago

AppsForBharat raises ₹175 crore in funding round led by Susquehanna Asia Venture

AppsForBharat, a Bengaluru-based startup running the devotional app Sri Mandir, raised ₹175 crore in a Series C funding round led by Susquehanna Asia Venture Capital. The funding round nearly doubled the company's valuation to $175 million since September 2024. AppsForBharat facilitated 52 lakh online pujas at over 70 temples and achieved a revenue rate of ₹100 crore in FY25. Existing investors include Nandan Nilekani’s Fundamentum, Elevation Capital, and Peak XV Partners.

GMO Venture, Elevation, Inventus, Matrix Partners, Finvolve lead rounds in five startups

VCCircle

VCCircle · 1y ago

GMO Venture, Elevation, Inventus, Matrix Partners, Finvolve lead rounds in five startups

Five startups have secured early-stage funding from investors such as GMO Venture Partners, Elevation Capital, Inventus Capital, Matrix Partners, and Finvolve. Oto, a two-wheeler financing platform, raised $10 million in a round led by GMO Venture Partners. Content commerce platform Wishlink raised $7 million in a Series A round led by Fundamentum Partnership. Senior citizen care platform Khyaal secured $4.2 million in a seed funding round co-led by 62Ventures, SVQuad, and Inventus Capital. Ride-sharing app Advance Mobility raised $2 million led by Finvolve. Adtech startup Adster raised $1 million in seed funding from WaterBridge Ventures.

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