The electric mobility sector in India continues to attract significant investment as sustainability becomes a priority for transportation solutions. SnapE Cabs, a Kolkata based electric vehicle ride hailing platform, has successfully completed a $2.5 million bridge funding round, demonstrating strong investor confidence in the company’s profitable growth trajectory.
Strategic Investment Strengthens Market Position
Inflection Point Ventures led this strategic investment round, with additional participation from ah! Ventures and several prominent angel investors including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur. This funding follows the company’s earlier $2.5 million pre Series A round from Inflection Point Ventures in February 2024, indicating sustained investor support for the platform’s expansion plans.
The newly raised capital will be strategically deployed across three key areas: advancing product development initiatives, expanding the electric vehicle leasing program, and scaling operations throughout the Delhi NCR region. This expansion approach aligns with SnapE’s proven business model that has demonstrated consistent profitability since achieving EBITDA positive status in January 2025.
Proven Business Model Drives Sustainable Growth
SnapE Cabs, founded in 2021 and launched in August 2022 by co founders Mayank Bindal, Mahendra Bindal, and Jaydip Mukherjee, has established a distinctive position in the competitive ride hailing market. The company operates over 1,100 electric vehicles, serving more than 1.2 million paying users while maintaining 1.3 million app downloads. Notably, the platform has facilitated over 3.2 million rides, establishing significant market traction.
The company’s unique value proposition centers on complete fleet ownership and proprietary charging infrastructure development. This integrated approach provides operational control while reducing dependency on third party services, contributing to improved profit margins and service reliability.
Future Expansion Plans Target Supply Led Infrastructure
Looking forward, SnapE Cabs plans to deploy an additional 1,000 vehicles over the next twelve months. The company is transitioning from a demand aggregation model to a supply led infrastructure approach, enabling partnerships with other mobility platforms while maintaining sustainable growth metrics.
This funding milestone positions SnapE Cabs to capitalize on India’s accelerating electric vehicle adoption and growing demand for sustainable transportation solutions in urban markets.
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