Latest news with #NexusVenturePartners
Fashion Network
a day ago
- Business
- Fashion Network
Slikk raises $10 million in series A funding round led by Nexus Venture Partners
Fashion delivery platform Slikk has raised $10 million (Rs 85 crore) in an all-equity series A round led by Nexus Venture Partners, with participation from existing investor Lightspeed. Earlier, it had raised $3.2 million in a seed round from Lightspeed. The company will utilise the funds to fuel its next phase of growth that includes launch of new lifestyle categories, rollout of instant returns, and expansion into more urban pin codes. Commenting on the funding, Akshay Gulati, co-founder & CEO at Slikk in a statement said, 'Slikk, since inception, has delivered a high-quality customer experience through our 60-minute delivery model. Brands have been able to unlock new users at a hyperlocal level. With this new round, we intend to double down on that promise and offer a significantly wider range of products and experiences to our customers.' Pratik Poddar, Partner at Nexus Venture Partners added, 'Having watched quick commerce reshape India's consumer behaviour, we firmly believe fashion is the definitive next frontier for digital disruption. The Slikk team's deep category insights and strategic execution are precisely what this moment demands. We're incredibly excited to be long-term partners in shaping this future.' Founded by Akshay Gulati, Om Prakash Swami, and Bipin Singh, Slikk delivers clothing and accessories within 60 minutes in select areas of Bengaluru.
Time of India
2 days ago
- Business
- Time of India
Quick service app Snabbit raises $19 million in round led by Lightspeed
Quick service app Snabbit , which offers hyperlocal, on-demand home services , has raised $19 million in a funding round led by Lightspeed. Existing investors Elevation Capital and Nexus Venture Partners also participated in the round. The Mumbai-based startup plans to use the fresh capital to expand into new micro-markets and strengthen its team amid rising demand for rapid, on-demand home services in India. Founded in 2024 by Aayush Agarwal , a former chief of staff at quick commerce platform Zepto, Snabbit connects households with trained professionals for tasks such as general cleaning, dishwashing, and laundry. These professionals are available on demand and typically arrive within 10 minutes, with services billed by the hour. 'The plan is to scale Snabbit to more than 200 micro-markets in the next nine to 12 months. We're now in around 10 micro-markets, so that's like a 20X multiple from here. We're also building out the team,' Agarwal told ET. Snabbit operates a full-stack model, managing the sourcing, training, and deployment of its workforce. Its time-based pricing structure is designed to ensure consistent service quality across households and tasks. Some of the areas where the startup currently operates include Mumbai's Powai, Thane, Marol, and Ghatkopar, as well as Bengaluru's Bellandur and Sarjapura. According to Agarwal, Snabbit has over 600 professionals on its platform, and this number is doubling every month. He added that the income potential for professionals on the platform is significantly higher than traditional offline channels, with someone working a 12-hour shift able to earn up to Rs 40,000 a month—about twice as much as they might make offline. 'Snabbit is not a category-based service as much as it is about getting someone skilled and trained to help you out. That help could be with cleaning the home, it could be with just an ad hoc task, or it could be, like, you have guests over and you need an extra hand. So, it's almost becoming that support system for a lot of customers who, at times, urgently need someone to help them out,' said Agarwal. The company also leverages advanced technologies for sourcing, training, onboarding, and managing its workforce. It has partnered with digital identity verification provider Idfy to streamline onboarding. Earlier this year, Snabbit raised $5.5 million in a round led by Elevation Capital, with participation from Nexus Venture Partners and other angel investors. Prior to that, in 2024, Nexus had also led a $1 million round in the startup. 'Snabbit is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now. Aayush and the team are building a platform for urban households, a completely new category that will cater to the needs of millions,' said Rahul Taneja, partner at Lightspeed. The rise of players like Snabbit comes as urban consumers increasingly expect convenience and speed in everyday services. Last month, Urban Company, a major player in the at-home services space, filed its draft red herring prospectus (DRHP) for a Rs 1,900 crore initial public offering (IPO). As part of the offer for sale (OFS), investors such as Accel, Elevation Capital, Tiger Global, and Vy Capital are looking to partially exit their stakes.
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Business Standard
3 days ago
- Business
- Business Standard
Snabbit raises $19 mn to expand on-demand home services across India
Snabbit, a fast-growing app that provides on-demand home services, has secured $19 million in a Series B funding round led by venture capital firm Lightspeed. Existing investors Elevation Capital and Nexus Venture Partners also participated in the round. With the new funding, Snabbit plans to expand its footprint across major Indian metropolitan areas and enter more than 200 micro-markets over the next nine months. The company is positioning itself to build what it describes as India's first comprehensive operating system for rapid home services—driven by technology, reliability and a network of trained professionals. 'At Snabbit, we're leading the biggest disruption in Indian consumer internet today, fundamentally changing how households access regular services,' said Aayush Agarwal, founder and chief executive officer, Snabbit. 'While ride-hailing transformed mobility and e-commerce reshaped fashion, regular home services remained largely undigitised. With Snabbit, we're solving for trust, quality and speed, all at the tap of a button. The need is universal, the category is massive, and we're just getting started.' The fresh capital comes just four months after Snabbit's Series A raise, signalling strong investor confidence in the startup's rapid growth and its potential to tap into an underpenetrated segment of India's consumer internet market. Founded in 2024 by Aayush Agarwal, Snabbit seeks to bring digital structure to India's largely informal home services sector—long a fragmented and underserved corner of the consumer economy. The startup's hyperlocal model connects users with trained and verified service professionals in real time, aiming to streamline the delivery of high-frequency household services in urban areas. Snabbit's impact goes well beyond convenience for customers. At the heart of the platform are women who were once part of an unstructured, unstable ecosystem. 'What makes this journey truly meaningful is the transformation in their lives,' said Agarwal. 'They now have Aadhaar-linked bank accounts, personal and family insurance, and steady monthly incomes. Once invisible and underpaid, they're now trained, trusted and celebrated professionals. For customers, Snabbit is about quality and speed—for our Experts, it's about dignity, stability and real upward mobility.' Rahul Taneja, partner at Lightspeed, said Snabbit is transforming home services in India by bringing speed, structure and trust to a sector that has largely operated informally until now. 'Aayush and the team are building a platform for urban households; a completely new category that will cater to the needs of millions,' said Taneja. Suvir Sujan, co-founder and managing director, Nexus Venture Partners, said Snabbit continues to execute with clarity and purpose in a space that's long overdue for change. 'They've taken a complex, hyperlocal problem and built a scalable, full-stack solution that delivers value to both consumers and professionals,' said Sujan. Speaking about the investment, Manish Advani, principal, Elevation Capital, said Snabbit's hyperlocal model is cracking the code in one of India's most complex and underserved categories. He said their rapid growth underscores both the scale of unmet demand and their ability to convert a trust-deficit sector into a seamless, on-demand experience. 'We have deep conviction in Aayush and the team as they build the backbone infrastructure that will make quality home services routine, reliable and extremely convenient,' said Advani.
Economic Times
3 days ago
- Business
- Economic Times
Quick service app Snabbit raises $19 million in round led by Lightspeed
ETtech Aayush Agarwal, founder, Snabbit Quick service app Snabbit, which offers hyperlocal, on-demand home services, has raised $19 million in a funding round led by Lightspeed. Existing investors Elevation Capital and Nexus Venture Partners also participated in the Mumbai-based startup plans to use the fresh capital to expand into new micro-markets and strengthen its team amid rising demand for rapid, on-demand home services in India. Founded in 2024 by Aayush Agarwal, a former chief of staff at quick commerce platform Zepto, Snabbit connects households with trained professionals for tasks such as general cleaning, dishwashing, and laundry. These professionals are available on demand and typically arrive within 15 minutes, with services billed by the hour. 'The plan is to scale Snabbit to more than 200 micro-markets in the next nine to 12 months. We're now in around 10 micro-markets, so that's like a 20X multiple from here. We're also building out the team,' Agarwal told ET. Snabbit operates a full-stack model, managing the sourcing, training, and deployment of its workforce. Its time-based pricing structure is designed to ensure consistent service quality across households and tasks. Some of the areas where the startup currently operates include Mumbai's Powai, Thane, Marol, and Ghatkopar, as well as Bengaluru's Bellandur and Sarjapura. According to Agarwal, Snabbit has over 600 professionals on its platform, and this number is doubling every added that the income potential for professionals on the platform is significantly higher than traditional offline channels, with someone working a 12-hour shift able to earn up to Rs 40,000 a month—about twice as much as they might make offline.'Snabbit is not a category-based service as much as it is about getting someone skilled and trained to help you out. That help could be with cleaning the home, it could be with just an ad hoc task, or it could be, like, you have guests over and you need an extra hand. So, it's almost becoming that support system for a lot of customers who, at times, urgently need someone to help them out,' said company also leverages advanced technologies for sourcing, training, onboarding, and managing its workforce. It has partnered with digital identity verification provider Idfy to streamline onboarding. Earlier this year, Snabbit raised $5.5 million in a round led by Elevation Capital, with participation from Nexus Venture Partners and other angel investors. Prior to that, in 2024, Nexus had also led a $1 million round in the startup. 'Snabbit is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now. Aayush and the team are building a platform for urban households, a completely new category that will cater to the needs of millions,' said Rahul Taneja, partner at rise of players like Snabbit comes as urban consumers increasingly expect convenience and speed in everyday services. Last month, Urban Company, a major player in the at-home services space, filed its draft red herring prospectus (DRHP) for a Rs 1,900 crore initial public offering (IPO). As part of the offer for sale (OFS), investors such as Accel, Elevation Capital, Tiger Global, and Vy Capital are looking to partially exit their stakes.
Time of India
3 days ago
- Business
- Time of India
Quick service app Snabbit raises $19 million in round led by Lightspeed
Quick service app Snabbit, which offers hyperlocal, on-demand home services , has raised $19 million in a funding round led by Lightspeed. Existing investors Elevation Capital and Nexus Venture Partners also participated in the round. The Mumbai-based startup plans to use the fresh capital to expand into new micro-markets and strengthen its team amid rising demand for rapid, on-demand home services in India. Founded in 2024 by Aayush Agarwal , a former chief of staff at quick commerce platform Zepto, Snabbit connects households with trained professionals for tasks such as general cleaning, dishwashing, and laundry. These professionals are available on demand and typically arrive within 15 minutes, with services billed by the hour. 'The plan is to scale Snabbit to more than 200 micro-markets in the next nine to 12 months. We're now in around 10 micro-markets, so that's like a 20X multiple from here. We're also building out the team,' Agarwal told ET. Live Events Snabbit operates a full-stack model, managing the sourcing, training, and deployment of its workforce. Its time-based pricing structure is designed to ensure consistent service quality across households and tasks. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Some of the areas where the startup currently operates include Mumbai's Powai, Thane, Marol, and Ghatkopar, as well as Bengaluru's Bellandur and Sarjapura. According to Agarwal, Snabbit has over 600 professionals on its platform, and this number is doubling every month. He added that the income potential for professionals on the platform is significantly higher than traditional offline channels, with someone working a 12-hour shift able to earn up to Rs 40,000 a month—about twice as much as they might make offline. 'Snabbit is not a category-based service as much as it is about getting someone skilled and trained to help you out. That help could be with cleaning the home, it could be with just an ad hoc task, or it could be, like, you have guests over and you need an extra hand. So, it's almost becoming that support system for a lot of customers who, at times, urgently need someone to help them out,' said Agarwal. The company also leverages advanced technologies for sourcing, training, onboarding, and managing its workforce. It has partnered with digital identity verification provider Idfy to streamline onboarding. Earlier this year, Snabbit raised $5.5 million in a round led by Elevation Capital, with participation from Nexus Venture Partners and other angel investors. Prior to that, in 2024, Nexus had also led a $1 million round in the startup. 'Snabbit is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now. Aayush and the team are building a platform for urban households, a completely new category that will cater to the needs of millions,' said Rahul Taneja, partner at Lightspeed. The rise of players like Snabbit comes as urban consumers increasingly expect convenience and speed in everyday services. Last month, Urban Company, a major player in the at-home services space, filed its draft red herring prospectus (DRHP) for a Rs 1,900 crore initial public offering (IPO). As part of the offer for sale (OFS), investors such as Accel, Elevation Capital, Tiger Global, and Vy Capital are looking to partially exit their stakes.
