Focus Keyword: Electric Mobility
A New Milestone for Snap-E Cabs
Kolkata-based electric mobility startup Snap-E Cabs has secured a robust $2.5 million (INR 22 crore) in a bridge funding round, announced on September 11, 2025. Led by Inflection Point Ventures, with participation from ah! Ventures and notable angel investors such as Shish Kharesiya, Praveen Chand, and Jaspreet Kaur, this infusion of capital marks a pivotal moment for the company’s expansion in India’s fast-growing electric vehicle (EV) ride-hailing sector.
Strategic Deployment of Funds
Scaling Operations in Delhi NCR
Snap-E Cabs plans to utilize the fresh capital to bolster its operations in Delhi NCR, a key market for sustainable mobility. The funds will support product development, the leasing of additional electric vehicles, and the enhancement of its technology-driven platform to deliver seamless ride-hailing experiences.
Expanding the EV Fleet
With an ambitious goal to address the supply gap in the EV ride-hailing market, Snap-E Cabs aims to add 1,000 more electric vehicles to its fleet over the next 12 months. This expansion builds on the company’s recent deployment of 200 EVs in Delhi through a strategic partnership with Rapido, which has already proven profitable.
Snap-E Cabs: Pioneering Electric Mobility
A Vision for Sustainable Urban Transport
Founded in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E Cabs operates as a subsidiary of Steelman Telecom Limited. The startup has grown its fleet to 1,112 electric vehicles, up from 500 in late 2024, and manages its own EV charging infrastructure to ensure operational efficiency. With over 1.2 million paying users and 1.3 million app downloads, Snap-E Cabs has completed 3.2 million rides, generating INR 120 crore in gross revenue.
EBITDA Profitability Achieved
A significant milestone for Snap-E Cabs is its achievement of EBITDA profitability in January 2025, a testament to its financially sustainable model. CEO Mayank Bindal emphasized a shift toward a supply-led infrastructure model, stating, “We’re not chasing growth metrics but addressing a real market gap, empowering other aggregators while enhancing utilization and margins.”
Competitive Landscape and Market Potential
Navigating the EV Ride-Hailing Space
The Indian EV ride-hailing sector is witnessing dynamic shifts, with disruptions like the closure of BluSmart, which operated 8,000 EVs before ceasing operations in early 2025. Snap-E Cabs is capitalizing on this opportunity, positioning itself alongside competitors like Evera Cabs, which recently raised $4 million to acquire part of BluSmart’s fleet. Meanwhile, industry giants like Uber are scaling their EV presence, with partnerships like the one with Refex Green Mobility to deploy 1,000 EVs by 2026.
A Booming Market Opportunity
The Indian EV market is projected to soar to $132 billion by 2030, driven by increasing consumer preference for sustainable transport—57% of Indian consumers now prefer ride-hailing over personal vehicles. Snap-E Cabs’ low operating costs, 60–70% lower than traditional cabs, and a customer acquisition cost of just 0.8% of revenue, position it to capture significant market share.
Leadership and Vision
Mayank Bindal, with over 15 years of experience in the telecom sector, leads Snap-E Cabs with a focus on scalability and sustainability. The company’s strategic partnerships, including a plan to deploy 5,000 EVs pan-India with Rapido over the next two years, underscore its commitment to building a robust EV ecosystem. Mitesh Shah, co-founder of Inflection Point Ventures, praised Snap-E Cabs’ model, noting, “Its environmentally friendly and financially sustainable approach is meeting the growing demand for greener ride-hailing solutions.”
Looking Ahead
With a 100% company-owned EV fleet, a network of exclusive charging point operators, and a focus on operational efficiency, Snap-E Cabs is well-positioned to lead India’s electric mobility revolution. This funding round not only fuels its expansion but also reinforces its mission to create a cleaner, scalable, and sustainable urban transport system by 2030.
Instagram Post Title: “⚡️ Snap-E Cabs Charges Up with $2.5M to Revolutionize Electric Mobility! #EVRevolution #SnapECabs”
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