Team StartupCity

• Snap-E Cabs raised $2.5 Million in a bridge round led by Inflection Point Ventures.
• Funds will be used to grow EV fleet, improve product, and scale in Delhi NCR.
• The startup reached EBITDA profitability in January 2025.

Electric mobility startup Snap-E Cabs has raised $2.5 million (approx. Rs 22 crore) in a bridge funding round led by Inflection Point Ventures. The round also saw participation from ah! Ventures and several angel investors including Shish Kharesiya, Praveen Chand, and Jaspreet Kaur.

Founded in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E Cabs is a Kolkata based EV ride hailing startup and a subsidiary of Steelman Telecom Ltd. The company operates an all-electric cab fleet, offering both ride hailing services and EV leasing to fleet operators. It currently runs 1,112 EVs, more than doubling its fleet size in less than a year.

The fresh capital will be used for product development, leasing more EVs, and expanding operations in Delhi NCR. Snap-E recently strengthened its presence in Delhi by partnering with Rapido, deploying 200 electric cars in the last three months.

What sets Snap-E apart is its 100% ownership of the EV fleet and a dedicated charging infrastructure, including exclusive access to charging point operators (CPOs). The company serves over 1.2 million paying users and is currently operational in Kolkata and Delhi NCR.

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In a major milestone, Snap-E achieved EBITDA profitability in January 2025, signaling strong unit economics. CEO Mayank Bindal, shared that the company is planning to add another 1,000 EVs in the next 12 months, focusing not just on growth, but on bridging supply gaps and enabling a supply led infrastructure model that supports other aggregators.

Snap-E is positioning itself not just as a mobility service but as a core infrastructure player in India’s EV revolution.