Technology

Lightspeed backs Indian home services startup Snabbit as the next big consumer trend

Home services in India — whether it is cleaning, dishwashing, or laundry — have traditionally been offline and informally run. This has often resulted in delays and uncertainties for consumers, as well as inconsistent pay and job insecurity for workers. Recently, however, startups have begun viewing this area as ripe for transformation, leveraging technology to bring predictability, scalability, and structure to the space.

Snabbit, founded last year, is one of the early movers in this arena, enabling customers to book high-frequency home services, including cleaning, dishwashing, laundry, and kitchen preparation, through its app, with delivery as fast as 10 minutes. The startup has now raised $19 million in a Series B round led by Lightspeed, with participation from its existing investors Elevation Capital and Nexus Venture Partners, at a post-money valuation of $80 million to expand its presence.

The 15-month-old startup launched its quick-service platform in the western Indian city of Mumbai, the country’s financial capital, after founder and CEO Aayush Agarwal personally experienced the challenges of finding reliable home services. At one point, Agarwal told TechCrunch, the situation became so difficult that his mother had to fly in from the eastern Indian city of Kolkata to help him find a new domestic worker.

“What stayed with me was that in a world of convenience where you can press a button, and you’ll get a cab, or you’ll get food or groceries, you can even get someone to go out on a date with, but finding someone for a simple service at home was excruciatingly difficult,” he said in an interview.

The startup ran experiments early last year and remained in one micro market in Mumbai for the first 12 months before expanding to seven markets in the city and one in Bengaluru.

Snabbit took a “full-stack approach” to sourcing, screening, training, onboarding, and managing workers, who the startup calls “experts.” Once Snabbit signs them, it has the workers move close to the startup’s demand centers so they can fulfill the company’s promise to provide service in 10 minutes.

Snabbit is not alone in this race, as incumbent Urban Company (backed by storied investors, including Accel, Prosus, and Tiger Global) started a similar experience on its app earlier this year. However, the company faced criticism due to the initial message it conveyed and the name Insta Maids, which it later corrected and renamed to Insta Help. This did not help convince many, including gig worker unions, though.

Similarly, newer entrants, including Broomees and Pronto, have also joined the arena recently. The latter even recently attracted Bain Capital Ventures for its seed funding.

“We know that the market is heating up,” he said. “The category is getting exciting, new players are coming in and getting funded. And I think all of it is great for us as long as we keep executing relentlessly.”

snabbit founder aayush agarwal — **Image Credits:**Snabbit

The startup charges customers between ₹169 (about $2) and ₹499 (nearly $6) to avail services of up to 240 minutes. The pricing is higher than that of Urban Company’s Insta Help, which starts at ₹49 (50 cents). However, Agarwal said the startup continued to grow and scale even after Urban Company’s foray into the market.

Agarwal hopes to compete with a consistent customer experience using its in-house tech stack that includes an internal CRM tool, a sourcing and screening pipeline, and an eKYC process to better comply with local regulations.

Snabbit currently has over 600 workers on its platform, and each of them covers a median walking distance of 300 meters between two jobs. It has also partnered with the mobility startup Yulu to train and provide e-bikes to its women workers, covering a larger median distance of 800 meters between their jobs. Moreover, Agarwal told TechCrunch that the startup will reduce the median distance for its workers as it scales.

The average ticket size on Snabbit’s platform is between ₹250 and ₹270 (about $3), while its workers completing a 12-hour shift earn “upward” of ₹40,000 ($470) a month. For completing four hours a day on the platform, the workers get over ₹10,000 ($120) a month, Agarwal said, adding that workers are also eligible for bonuses.

Agarwal contends that workers can earn more than the roughly ₹9,000 ($100) that domestic helpers in urban locations are typically paid in the country, per the International Domestic Workers Federation (PDF).

Better treatment for domestic workers

Snabbit also provides personal life insurance, health insurance, and accidental insurance to all its workers, as well as family insurance to those who have been with the startup for some time.

Workplace abuse has also been quite prevalent for domestic workers in India, as the country predominantly lacks protective laws. For such cases, the startup provides an SOS feature on its app that workers can use to call a field operations team, which reaches the location within “five to seven minutes” to help workers in edge situations, the founder said.

Over the last four months, Agarwal stated the startup grew 5x and is currently growing around 20% week-over-week. It plans to expand to over 200 micro markets across metro cities in India within the next nine months by utilizing the fresh capital and hire more employees in its workforce that has nearly 100 people.

That said, several hyperlocal consumer apps have been tried and failed repeatedly. For instance, food deliveries imploded globally in 2023 after the pandemic-led lockdowns eased, but they started facing challenges in the last few months. Even in India, instant food delivery models introduced by quick commerce platforms, including Zepto and Zomato, have struggled. The former paused its 10-minute cafe services due to supply constraints, while the latter halted its 15-minute food delivery service just four months after launch, citing “no incrementality in demand.”

The cost of acquiring customers and providing suppliers in their location is expensive and often hard to pay over time. In Snabbit’s case, TechCrunch has learned that the customer acquisition cost is ₹700 ($8), while its average ticket size is about $3.

The startup has onboarded over 25,000 customers so far, and an average customer transacts on the platform at least three times a month, per Agarwal.

“Our retention rates are as good as any consumer internet company, say, a Zepto or Swiggy, would be having,” the executive said.

Nevertheless, it remains to be seen how the startup can retain its customers over time and beat the competition while continuing to scale and expand its market in India.

“Snabbit is transforming home services in India by bringing speed, structure, and trust to a sector that has largely operated informally until now,” said Rahul Taneja, a partner at Lightspeed, in a prepared statement. “We are excited to join them on this journey and support their mission to transform and scale what was once considered a luxury into a day-to-day necessity.”

Technology

Pintarnya raises $16.7M to power jobs and financial services in Indonesia

Pintarnya, an Indonesian employment platform that goes beyond job matching by offering financial services along with full-time and side-gig opportunities, said it has raised a $16.7 million Series A round.

The funding was led by Square Peg with participation from existing investors Vertex Venture Southeast Asia & India and East Ventures.

Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan founded Pintarnya in 2022 to tackle two of the biggest challenges Indonesians face daily: earning enough and borrowing responsibly.

“Traditionally, mass workers in Indonesia find jobs offline through job fairs or word of mouth, with employers buried in paper applications and candidates rarely hearing back. For borrowing, their options are often limited to family/friend or predatory lenders with harsh collection practices,” Henry Hendrawan, co-founder of Pintarnya, told TechCrunch. “We digitize job matching with AI to make hiring faster and we provide workers with safer, healthier lending options — designed around what they can reasonably afford, rather than pushing them deeper into debt.”

Around 59% of Indonesia’s 150 million workforce is employed in the informal sector, highlighting the difficulties these workers encounter in accessing formal financial services because they lack verifiable income and official employment documentation.

Pintarnya tackles this challenge by partnering with asset-backed lenders to offer secured loans, using collateral such as gold, electronics, or vehicles, Hendrawan added.

Since its seed funding in 2022, the platform currently serves over 10 million job seeker users and 40,000 employers nationwide. Its revenue has increased almost fivefold year-over-year and expects to reach break-even by the end of the year, Hendrawn noted. Pintarnya primarily serves users aged 21 to 40, most of whom have a high school education or a diploma below university level. The startup aims to focus on this underserved segment, given the large population of blue-collar and informal workers in Indonesia.

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“Through the journey of building employment services, we discovered that our users needed more than just jobs — they needed access to financial services that traditional banks couldn’t provide,” said Hendrawan. “We digitize job matching with AI to make hiring faster and we provide workers with safer, healthier lending options — designed around what they can reasonably afford, rather than pushing them deeper into debt.”

Pintarnya Founders Press Kit — image credits: Pintarnya (Founders of Pintarnya Ghirish Pokardas, Nelly Nurmalasari, and Henry Hendrawan)

While Indonesia already has job platforms like JobStreet, Kalibrr, and Glints, these primarily cater to white-collar roles, which represent only a small portion of the workforce, according to Hendrawan. Pintarnya’s platform is designed specifically for blue-collar workers, offering tailored experiences such as quick-apply options for walk-in interviews, affordable e-learning on relevant skills, in-app opportunities for supplemental income, and seamless connections to financial services like loans.

The same trend is evident in Indonesia’s fintech sector, which similarly caters to white-collar or upper-middle-class consumers. Conventional credit scoring models for loans, which rely on steady monthly income and bank account activity, often leave blue-collar workers overlooked by existing fintech providers, Hendrawan explained.

When asked about which fintech services are most in demand, Hendrawan mentioned, “Given their employment status, lending is the most in-demand financial service for Pintarnya’s users today. We are planning to ‘graduate’ them to micro-savings and investments down the road through innovative products with our partners.”

The new funding will enable Pintarnya to strengthen its platform technology and broaden its financial service offerings through strategic partnerships. With most Indonesian workers employed in blue-collar and informal sectors, the co-founders see substantial growth opportunities in the local market. Leveraging their extensive experience in managing businesses across Southeast Asia, they are also open to exploring regional expansion when the timing is right.

“Our vision is for Pintarnya to be the everyday companion that empowers Indonesians to not only make ends meet today, but also plan, grow, and upgrade their lives tomorrow … In five years, we see Pintarnya as the go-to super app for Indonesia’s workers, not just for earning income, but as a trusted partner throughout their life journey,” Hendrawan said. “We want to be the first stop when someone is looking for work, a place that helps them upgrade their skills, and a reliable guide as they make financial decisions.”

Technology

OpenAI warns against SPVs and other ‘unauthorized’ investments

In a new blog post, OpenAI warns against “unauthorized opportunities to gain exposure to OpenAI through a variety of means,” including special purpose vehicles, known as SPVs.

“We urge you to be careful if you are contacted by a firm that purports to have access to OpenAI, including through the sale of an SPV interest with exposure to OpenAI equity,” the company writes. The blog post acknowledges that “not every offer of OpenAI equity […] is problematic” but says firms may be “attempting to circumvent our transfer restrictions.”

“If so, the sale will not be recognized and carry no economic value to you,” OpenAI says.

Investors have increasingly used SPVs (which pool money for one-off investments) as a way to buy into hot AI startups, prompting other VCs to criticize them as a vehicle for “tourist chumps.”

Business Insider reports that OpenAI isn’t the only major AI company looking to crack down on SPVs, with Anthropic reportedly telling Menlo Ventures it must use its own capital, not an SPV, to invest in an upcoming round.

Technology

Meta partners with Midjourney on AI image and video models

Meta is partnering with Midjourney to license the startup’s AI image and video generation technology, Meta Chief AI Officer Alexandr Wang announced Friday in a post on Threads. Wang says Meta’s research teams will collaborate with Midjourney to bring its technology into future AI models and products.

“To ensure Meta is able to deliver the best possible products for people it will require taking an all-of-the-above approach,” Wang said. “This means world-class talent, ambitious compute roadmap, and working with the best players across the industry.”

The Midjourney partnership could help Meta develop products that compete with industry-leading AI image and video models, such as OpenAI’s Sora, Black Forest Lab’s Flux, and Google’s Veo. Last year, Meta rolled out its own AI image generation tool, Imagine, into several of its products, including Facebook, Instagram, and Messenger. Meta also has an AI video generation tool, Movie Gen, that allows users to create videos from prompts.

The licensing agreement with Midjourney marks Meta’s latest deal to get ahead in the AI race. Earlier this year, CEO Mark Zuckerberg went on a hiring spree for AI talent, offering some researchers compensation packages worth upwards of $100 million. The social media giant also invested $14 billion in Scale AI, and acquired the AI voice startup Play AI.

Meta has held talks with several other leading AI labs about other acquisitions, and Zuckerberg even spoke with Elon Musk about joining his $97 billion takeover bid of OpenAI (Meta ultimately did not join the offer, and OpenAI denied Musk’s bid).

While the terms of Meta’s deal with Midjourney remain unknown, the startup’s CEO, David Holz, said in a post on X that his company remains independent with no investors; Midjourney is one of the few leading AI model developers that has never taken on outside funding. At one point, Meta talked with Midjourney about acquiring the startup, according to Upstarts Media.

Midjourney was founded in 2022 and quickly became a leader in the AI image generation space for its realistic, unique style. By 2023, the startup was reportedly on pace to generate $200 million in revenue. The startup sells subscriptions starting at $10 per month. It offers pricier tiers, which offer more AI image generations, that cost as much as $120 per month. In June, the startup released its first AI video model, V1.

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Meta’s partnership with Midjourney comes just two months after the startup was sued by Disney and Universal, alleging that it trained AI image models on copyrighted works. Several AI model developers — including Meta — face similar allegations from copyright holders, however, recent court cases pertaining to AI training data have sided with tech companies.

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