Electric mobility startup Snap-E Cabs has secured $2.5 million in a bridge funding round led by Inflection Point Ventures, with participation from ah! Ventures and angel investors including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur.
Funding Snapshot
- Amount: $2.5M (bridge round)
- Lead Investor: Inflection Point Ventures
- Other Investors: ah! Ventures, select angels
- Previous Round: $2.5M pre-Series A (2024)
Redefining EV Ride-Hailing
Founded in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E Cabs operates as an EV-first ride-hailing platform while also leasing EV cars to fleet operators. Distinct from demand-aggregator models, Snap-E owns 100% of its fleet and has built an exclusive EV charging infrastructure.
The fresh capital will fuel product development, leasing additional EVs, and expanding operations in Delhi NCR. The company plans to add 1,000 more cars over the next year to close the growing supply gap in the EV mobility space.
Traction & Profitability
- Current fleet: 1,112 EV cars
- Users served: 1.2M+ paying customers
- Expansion milestone: 200 cars deployed in Delhi with Rapido (2024)
- Profitability: Achieved EBITDA positive in Jan 2025
Competitive Edge
Snap-E operates in a highly competitive space with players like Uber, Ola, Rapido, and Evera Cabs. With BluSmart’s collapse in early 2025, Snap-E is betting on its supply-led model—owning vehicles, controlling charging hubs, and ensuring reliable service—to capture market share.
Market Watch
India’s EV mobility market is expected to witness rapid growth with rising urban adoption, state EV policies, and corporate fleet electrification. Snap-E’s full-stack EV ownership model could set it apart as investors increasingly favor profitable, asset-backed growth strategies over pure aggregation plays.
Final Take
By combining fleet ownership, charging infrastructure, and profitability discipline, Snap-E is positioning itself as a serious contender in India’s EV ride-hailing market. Its $2.5M bridge round reflects investor confidence in a model designed for long-term sustainability rather than just scale at any cost.
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