KOLKATA, 11th September, 2025: Electric mobility company SnapE Cabs raised 2.5 million USD in a bridge round led by Inflection Point Ventures recently. The fresh capital will help the company scale its presence in Delhi, expand its electric vehicle fleet, and strengthen its product offerings. The round also saw participation from Ah Ventures, Shish Kharesiya, Praveen Chand, Jaspreet Kaur and others.
The funding comes at a time when SnapE Cabs is seeing solid traction across major Indian cities. With a fleet of over 1,100 electric vehicles and a growing in-house charging infrastructure network, the company has already completed 3.2 million rides, logged over 1.3 million app downloads, and serves 1.2 million paying users.
SnapE recently entered the Delhi market through a strategic tie-up with Rapido. Within three months, it deployed 200 cabs in the city, achieving profitability from day one. The company’s strong unit economics and lean operational structure have set it apart in a competitive space.
Mitesh Shah, Co-founder, Inflection Point Ventures, 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. The recent tie up with Rapido further strengthens the company mission for India’s EV adoption and sustainable goal.”
Founded by Mayank Bindal, SnapE Cabs operates under EC Wheels India Private Limited. Bindal, who holds a master’s degree in finance from the University of Glasgow, previously worked for over 15 years in the telecom sector. Today, he leads the company as Founder and Chief Executive Officer.
“We are not just expanding. We are 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 are adding another 1000 cars, not to chase growth metrics, but to meet a very real supply gap left open in the market. 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,” said Mayank Bindal, Founder and Chief Executive Officer, SnapE Cabs.
Investors see high relevance in backing companies like SnapE because the electric mobility ecosystem in India is entering a phase of real opportunity. With cost advantages, a growing user base, and supportive public sentiment, the EV fleet segment is no longer an experiment. It is a logical shift. The market for electric vehicles in India is projected to reach 18.3 billion United States Dollars by 2029, with ride-hailing services set to see up to 7 percent of the market captured by electric cabs by 2030.
SnapE’s model offers deep operational control, high rider retention, and extremely low customer acquisition costs. It is also backed by strategic B2B alliances and a full-stack infrastructure play. This round places SnapE in a strong position to execute on its national roadmap while showing that profitable scale in the EV space is not a concept any more, but a reality that that the world needs to know.
