Snap-E Cabs raises $2.5 Mn in bridge round led by IPV

Snap-E Cabs, an electric mobility startup, has raised $2.5 million in a bridge round led by Inflection Point Ventures, with participation from ah! Ventures and angel investors including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur. 

Earlier in February last year, the startup had raised $2.5 million in pre-Series A funding from Inflection Point Ventures, which supported its entry into Delhi through a partnership with Rapido, deploying 200 cars in the last three months.

The proceeds will be used for product development, leasing more EV cars, and expanding operations in Delhi NCR.

Founded in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E Cabs operates as an EV-first ride-hailing platform while also leasing EV cars to fleet operators. Snap-E owns 100% of its fleet and has set up its own EV charging infrastructure. 

It currently runs 1,112 EV cars and serves more than 1.2 million paying users. Over the next year, Snap-E plans to add another 1,000 cars to bridge the supply gap in EV ride-hailing. The company claims to have achieved EBITDA profitability in January 2025.

Snap-E operates in a competitive EV mobility market, going up against players like Uber, Ola, Rapido, Evera Cabs, and BluSmart (which collapsed earlier in 2025). Unlike demand aggregators, Snap-E is pursuing a supply-led infrastructure model with exclusive charging hubs and full fleet ownership.