Quick service app Snabbit raises $19 million from Lightspeed and others as investors pour money into quick delivery startups.The participants in the funding round of Snabbit that offers hyperlocal, on-demand home services includes the existing investors Elevation Capital and Nexus Venture Partners.

Snabbit offers trained personnel within 10 minutes for multiple home tasks such as general cleaning, dishwashing, laundry and more.

The fresh funds will be used to expand into new micro-markets and strengthen its team. The company is looking to scale to over 200 micro-markets in the next nine to 12 months from now.

Nexus Venture Partners and Lightspeed, key investors in Snabbit also happen to be backers of Zepto, where Snabbit founder Aayush Agarwal previously worked, strengthening investor’s confidence, and helping Snabbit close the round in "under a week."

 

The round comes just four months after the company raised $5.5 million in its Series A round and also days after its arch rival Pronto, a Gurugram-based startup, announced its seed round of $2 million from Bain Capital Ventures.

 

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The companies quick commerce companies like Slikk and more are becoming a favorite among investors along with Snabbit and Pronto, as they continue to innovate and create an additional layer of demand among users.

Aayush however is not worried about competition. He states, “Be it Urban Company, Pronto, Pync or any other startup, we are not bothered. They have copied what Snabbit built and are currently solving the problems we had solved one year ago.”