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Electric mobility startup SnapE Cabs has raised $2.5 million in a bridge funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm. The round also saw participation from Ah! Ventures, Shish Kharesiya, Praveen Chand, Jaspreet Kaur, and others. The startup plans to use the funds for operational overheads, leasing EVs, and product development and enhancement. It claims to have more than 1.2 million paying users and 1.3 million app downloads, helping it reach Rs 120 crore in gross revenue.
SnapE Cabs recently expanded its presence into the Delhi market through a strategic partnership with Rapido by deploying 200 cars in the last 3 months, which has achieved profitability. The startup runs about 1,112 EV cabs, up from about 500 in late 2024. It is currently functional in Kolkata and growing into the Delhi-NCR area.
“We’re not just expanding; we’re delivering profitability at scale. With IPV backing us in this bridge round, SnapE has already deployed 200 electric cabs in Delhi in the last 3 months, that have been profitable from Day 1. Over the next 12 months, we’re adding another 1000 cars, not to chase growth metrics, but to meet a very real supply gap left open in the market,” said Mayank Bindal, who is also the CEO of SnapE Cabs.
“Our focus shifts from a demand aggregation to a supply-led infrastructure model empowers other demand aggregators, enhances utilization, and de-risks margins. In a sector built on burns, recent disruptions have created visible white space and squeezed up margins; SnapE is proving that EV fleet economics work today, not just on projections. This round accelerates our mission to build the backbone that enables India’s EV mobility vision for 2030; clean, scalable, and built on fundamentals,” he added.
Mitesh Shah, co-founder IPV, said, “The demand for clean and sustainable vehicles is growing globally. The ride-hailing platforms are no exception. With an increasing number of people using ride-hailing services, this sector urgently needs a greener alternative. SnapE Cabs is addressing this by not only offering EV cab services but by also building a supportive infrastructure. Its model is both environmentally friendly and financially sustainable, achieving growth without burning cash for customer acquisition, discounts, and fleet operations.”
About SnapE Cabs
SnapE cabs has been founded by Mayank Bindal. SnapE Cabs offers an end-to-end EV fleet and charging infrastructure platform for ride-hailing and fleet operators. The startup said it turned EBITDA positive in January 2025, with its fleet of EVs growing to more than 1,000.