In a transformative leap for India’s electric mobility sector, Kolkata-based startup SnapE Cabs has secured a robust $2.5 million in a bridge funding round, announced on September 11, 2025. Led by Inflection Point Ventures (IPV), one of India’s largest angel investment platforms, the round also welcomed contributions from Ah Ventures and prominent angel investors, including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur. This infusion of capital is set to propel SnapE Cabs’ ambitious plans to lease electric vehicles (EVs), enhance product development, and expand its footprint, particularly in the Delhi-NCR region. With a fleet of over 1,100 EVs and a rapidly growing user base, SnapE Cabs is driving India toward a cleaner, greener future, aligning with the nation’s goal of 30% EV penetration by 2030.
Charging Toward a Sustainable Future
Founded in 2022 by Mayank Bindal and Mahendra Bindal, SnapE Cabs has emerged as a trailblazer in India’s electric ride-hailing industry. Unlike traditional ride-hailing platforms that rely on aggregator-driven models, SnapE Cabs operates a full-stack EV fleet and charging infrastructure platform, owning 100% of its vehicles. This supply-led approach ensures higher vehicle uptime, predictable service delivery, and lower operating costs—60–70% less than internal combustion engine (ICE) cabs. The company’s proprietary charging hubs further enhance efficiency, addressing one of the biggest bottlenecks in EV adoption: charging infrastructure.
Since its inception, SnapE Cabs has achieved remarkable milestones. The startup turned EBITDA positive in January 2025, a rare feat in the mobility sector, and has generated ₹120 crore in gross revenue. With over 1.2 million paying users, 1.3 million app downloads, and 3.2 million completed rides, SnapE Cabs has cemented its position as a formidable player in the Indian EV market. Its fleet has grown from 500 vehicles in late 2024 to 1,112 EVs today, reflecting its rapid scaling and market traction.
Strategic Expansion in Delhi-NCR
The $2.5 million funding will fuel SnapE Cabs’ expansion plans, with a key focus on deepening its presence in Delhi-NCR. In the past three months, the company deployed 200 EVs in Delhi through a strategic partnership with Rapido, a move that has already proven profitable from day one. Over the next 12 months, SnapE Cabs plans to add 1,000 more EVs to its fleet to address the growing demand for sustainable ride-hailing services. “We’re not just expanding; we’re delivering profitability at scale,” said CEO Mayank Bindal. “Our partnership with Rapido and this funding from IPV enable us to fill a real supply gap in the market while maintaining financial sustainability.”
Delhi’s profitability underscores SnapE Cabs’ disciplined approach to growth. Unlike competitors that burn cash on customer acquisition and discounts, SnapE Cabs boasts a customer acquisition cost of just 0.8% of revenue and a rider retention rate of up to 90%. This efficiency is driven by its supply-led model, which empowers fleet operators and demand aggregators while maintaining a 3:1 supply-demand ratio. The company’s long-term vision includes deploying 5,000 EVs across India within two years, leveraging partnerships like the one with Rapido to scale operations nationwide.
A Greener Alternative for India
The funding comes at a pivotal moment for India’s electric mobility sector, which is witnessing surging demand for clean transportation solutions. With urban pollution levels rising and fuel costs escalating, consumers are increasingly turning to EVs for cost-effective and eco-friendly travel. SnapE Cabs is capitalizing on this trend by offering a seamless ride-hailing experience powered by zero-emission vehicles. Mitesh Shah, co-founder of IPV, emphasized the broader impact: “The demand for sustainable vehicles is growing globally, and ride-hailing platforms are no exception. SnapE Cabs is not only offering EV services but also building a supportive infrastructure, making it both environmentally and financially sustainable.”
SnapE Cabs’ integrated charging network is a cornerstone of its strategy. By establishing dedicated charging hubs, the company ensures its fleet remains operational with minimal downtime, addressing a critical challenge faced by many EV operators. This infrastructure also positions SnapE Cabs to support other fleet operators, creating a scalable ecosystem for electric mobility. The startup’s focus on product development will further enhance its offerings, with plans to introduce advanced features such as real-time battery monitoring and predictive maintenance to optimize fleet performance.
Competing in a Dynamic Market
SnapE Cabs operates in a competitive landscape alongside players like Uber, Ola, Rapido, and Evera Cabs. However, its full fleet ownership and proprietary charging infrastructure set it apart from aggregator-driven models. The collapse of rival BluSmart has further opened opportunities for SnapE Cabs to capture market share, particularly in urban centers like Kolkata and Delhi-NCR. By prioritizing supply-led growth over demand aggregation, SnapE Cabs ensures higher utilization rates and operational efficiency, giving it a competitive edge.
The Indian EV market, projected to reach $7.09 billion by 2025 with a 43.13% CAGR, is poised for exponential growth, driven by government incentives, rising fuel prices, and increasing consumer awareness. SnapE Cabs is well-positioned to capitalize on this trend, with its focus on scalability, profitability, and sustainability. The company’s alignment with India’s 2030 EV penetration goal further strengthens its appeal to investors and policymakers alike.
A Bright Road Ahead
SnapE Cabs’ latest funding round marks a significant milestone in its journey to transform India’s ride-hailing industry. With a proven track record of profitability, a growing fleet, and a strategic partnership with Rapido, the startup is paving the way for a cleaner, more efficient future. The support of investors like IPV and Ah Ventures reflects confidence in SnapE Cabs’ vision and execution. As the company scales its operations and innovates its product offerings, it is set to redefine urban mobility in India, one electric ride at a time.
also read: Top 10 Agritech Startups in India
Last Updated on Thursday, September 11, 2025 8:05 pm by Entrepreneur Guild Team
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