SnapE Cabs raises $2.5 million funding for EV expansion

SnapE Cabs has secured $2.5 million in a bridge deck funding round led by Inflection Point Ventures. The company will use the capital for operational expenses, leasing electric vehicles, and product development.

The company became EBITDA positive in January 2025 and has expanded its electric vehicle fleet to more than 1,000 cars. It has also achieved Rs 1.2 billion in gross revenue.

SnapE Cabs is owned by EC Wheels India Private Limited, a subsidiary of Steelman Telecom Limited. The company operates electric cab services positioned as reliable and eco-friendly public transport.

According to Founder and CEO Mayank Bindal, SnapE Cabs has deployed 200 electric cabs in Delhi over the past three months, with profitability from the start. The company plans to add another 1,000 cars over the next year to address supply gaps in the market.

Bindal noted that SnapE is moving from a demand aggregation model to a supply-led infrastructure approach aimed at improving utilization and margins. He added that the strategy is designed to support India’s EV mobility goals for 2030.