In a development that can bring revolution in quick commerce space, Snabbit, a startup by former Zepto executive, has raised $5.5 million in a seed funding round. The investment has been led by leading venture capital firms, Nexus Venture Partners and Accel Partners, among several angel investors like Meesho’s Vidit Aatrey and Sanjeev Barnwal, Unacademy’s Gaurav Munjal and Spinny’s Niraj Singh.

PC: The Economic Times 

The funding will play a crucial role in scaling the operations of Snabbit and strengthening its service offerings in the rapidly growing quick commerce market.

What is Snabbit exactly?

Founded by Ankit Kumar, Snabbit strives to change the quick commerce game by providing delivery services of day-to-day essentials through ultra-fast logistics. Delivering groceries and household essentials in as little as two minutes from the start to handover, catering to a significant demand from customers today in terms of the convenience quotient with a seamless and efficient user-friendly app.

Snabbit Vision

Ankit Kumar, one of the key players who recently left Zepto, brings invaluable experience and insights into the fast-paced quick commerce space. Ankit’s vision for Snabbit is to create a seamless shopping experience focusing on the speed and customer satisfaction with good delivery routes, inventory management, and also which can well optimize with advanced technology and data analytics where customers will get their orders promptly.

Kumar stated that this investment will help them enhance our technology infrastructure and expand their reach. We are committed to providing their customers with the best possible experience, and this funding will help them achieve that goal. Emphasis on technology helps highlight Snabbit’s strategy for standing out in the highly competitive market.

Market Potential

The fast commerce segment has grown explosively over the last couple of years, driven by changing consumer expectations and increasing reliance on online shopping. With instant delivery services, startups like Snabbit are perfectly placed to capture the market of consumers wanting convenience and speed. The new funding will enable Snabbit to scale its operations, expand its delivery network, and enhance its product offerings.

Future Plans

With the new capital, Snabbit will focus on reinforcing its logistic capabilities and increasing its footprint within its vital urban markets. Snabbit is also working on developing partnership relationships with neighborhood supply partners to offer a wide variety of products available for rapid delivery. In doing so, Snabbit positions itself excellently to be able to become a market leader in quick commerce by focusing on customer experience and operational efficiency.

In the final analysis, Snabbit’s successful funding round is a great start for this startup on its path to redefine quick commerce. With a strong leadership team and a clear vision in place, Snabbit has all it takes to make a big impact on the industry catering to the ever-evolving needs of customers with a penchant for speed and convenience in their shopping experiences. This bodes very well for the future success of Snabbit as the quick commerce market continues to grow.