Snabbit and Chelvies Coffee Secure Funding for Expansion

Snabbit, a platform offering trained experts for home tasks, has raised USD 5.5 million in a round led by Elevation Capital. Meanwhile, Chelvies Coffee secured USD 1 million for its expansion plans in India. Both companies aim to enhance service offerings and increase market presence with the new funds.

Quick-service platform Snabbit secured USD 5.5 million in a funding round spearheaded by Elevation Capital, with backing from Nexus Venture Partners and angel investors including Niraj Singh, Gaurav Munjal, Sanjeev Barnwal, and Vidit Aatrey.

This latest capital injection is on the heels of a USD 1 million seed round led by Nexus Venture Partners earlier this year. With these funds, Snabbit plans to expand its geographic reach and bolster its workforce, targeting enhanced market presence.

In a related development, Chelvies Coffee, a speciality coffee brand, raised USD 1 million from Endurance Capital, alongside a pending USD 500,000 debt financing. The investment will drive Chelvies' strategy to open over 30 locations across major Indian metro areas and upgrade its supply chain and operational teams.

(With inputs from agencies.)