SnapE Cabs Raises $2.5 Mn in Bridge Round Led by Inflection Point Ventures

SnapE Cabs has raised $2.5 million in a Bridge Deck Round led by Inflection Point Ventures. Other participants in the round include Ah Ventures, Shish Kharesiya, Praveen Chand, Jaspreet Kaur, and others. The funds will be used for operational overheads, leasing electric vehicles, and product development.

Also Read: Feb 2024 | Pre-Series A round raised by Snap-E, led by Inflection Point Ventures

The company became EBITDA positive in January 2025. Its fleet now includes over 1,000 electric vehicles. SnapE has more than 1.2 million paying users and over 1.3 million app downloads, resulting in 3.2 million completed rides and ₹120 crores in gross revenue.

SnapE recently entered the Delhi market through a partnership with Rapido, deploying 200 EVs in the past three months, with the operation already profitable. It owns 100% of its EV fleet and works with exclusive CPO partners, maintaining a 3:1 supply-demand ratio. Operating costs are 60–70% lower than ICE cabs. Customer acquisition cost is 0.8% of revenue, and rider retention is up to 90%. A partnership with Rapido targets deployment of 5,000 EVs across India in two years.

Mitesh Shah, Co-founder, IPV, said, “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 by 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 mission for India’s EV adoption and sustainable goal.”

Mayank Bindal, Founder and CEO, SnapE Cabs, commented, “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, that 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 empowers other demand aggregators, enhances utilization, 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. This round accelerates our mission to build the backbone that enables India’s EV mobility vision for 2030; clean, scalable, and built on fundamentals.”

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