SnapE Cabs has Raised $2.5 Mn in a Bridge Round led by Inflection Point Ventures

An electric mobility company, SnapE Cabs, raised $2.5 Mn in a Bridge Deck Round led by Inflection Point Ventures, one of India’s largest Angel investing platforms. The funds will be deployed towards operational overheads, leasing EV cars, and product development and enhancement. The round also saw participation from Ah Ventures, Shish Kharesiya, Praveen Chand, Jaspreet Kaur and others.

SnapE turned EBITDA positive in January 2025, with its fleet of EV cars growing to over 1,000. This growth has been matched by the number of users, with more than 1.2 million paying users and over 1.3 million app downloads, which has led to 3.2 million rides so far. The company recently expanded its presence into the Delhi market through a partnership with the ride-hailing service platform - Rapido. 

Mitesh Shah, co-founder IPV, says, “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 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's mission for India’s EV adoption and sustainable goal.”

Mayank Bindal, Founder and CEO, SnapE Cabs, says, “We’re not just expanding; we’re 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, which have been profitable from Day 1. Over the next 12 months, we’re 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 that empowers other demand aggregators, enhances utilisation, 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.”