Kolkata-headquartered Snap-E Cabs, an electric-first ride-hailing startup, has secured $2.5 million in a bridge funding round led by Inflection Point Ventures (IPV), with additional backing from ah! Ventures and a group of angel investors including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur.
This comes after its earlier $2.5 million pre-Series A round in February 2024, also led by IPV, which fueled Snap-E’s foray into Delhi NCR in partnership with Rapido, where the company deployed 200 EVs over the last three months.
The newly raised capital will go toward product innovation, leasing more EVs, and deepening its footprint in Delhi NCR.
Founded in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E differentiates itself by being a fleet-first platform—owning its entire EV inventory while also leasing vehicles to fleet operators. The company has additionally established its dedicated charging network, ensuring higher vehicle uptime and predictable service delivery.
Currently, Snap-E operates 1,112 EV cabs, serving a base of over 1.2 million riders, and achieved EBITDA profitability in January 2025. Looking ahead, the company plans to add another 1,000 EVs within the next year to meet rising demand for clean mobility.
Snap-E competes with Uber, Ola, Rapido, and Evera Cabs, while carving out its niche against collapsed rival BluSmart, by pursuing a supply-led model built on full fleet ownership and proprietary charging hubs—rather than the aggregator-driven approach that dominates the sector.
By: Arushi Agarwal
