SnapE Cabs Raises $2.5M to Expand EV Fleet, Enter Delhi Market

SnapE Cabs, an electric mobility startup based in Kolkata, has raised $2.5 million in a bridge funding round led by Inflection Point Ventures, with participation from multiple angel investors. The company, founded by Mayank Bindal, plans to use the funds to expand its electric vehicle fleet, particularly in Delhi, enhance product development, and cover operational costs. SnapE Cabs has grown its EV fleet to over 1,100 vehicles, achieved EBITDA profitability in January 2025, and reached ₹120 crore in gross revenue with over 1.2 million paying users and 3.2 million completed rides. The startup recently deployed 200 EV cabs in Delhi through a strategic partnership with Rapido, which have been profitable from day one, and aims to add another 1,000 vehicles over the next year to meet market demand. The company emphasizes a supply-led infrastructure model that supports demand aggregators and boasts operating costs 60-70% lower than traditional internal combustion engine cabs, positioning itself as an environmentally friendly and financially sustainable player in India's EV mobility market. SnapE Cabs faces competition from established players like BluSmart, Ola Electric, and Uber Green but distinguishes itself with 100% ownership of its fleet and exclusive partnerships with charging point operators.