If there’s one thing happening fast in India’s mobility space, it’s the electric revolution. And one player that’s quietly making big moves is Snap-E Cabs. The electric ride-hailing startup just raised a cool $2.5 million in bridge funding. The round was led by Inflection Point Ventures (IPV), with support from ah! Ventures and a bunch of angel investors who clearly see the green future coming.
This isn’t just a vanity round to flash numbers. The money will go into expanding Snap-E’s fleet of electric vehicles (EVs), beefing up tech, and scaling operations.
Who Are Snap-E Cabs?
Launched in 2022 by Mayank Bindal and Mahendra Bindal, Snap-E Cabs took a simple but bold approach from the start — own your fleet. No middlemen, no frills. They don’t just aggregate drivers like most ride-hailing platforms. Instead, they own 100% of their fleet and even build their own EV charging infrastructure.
It’s not just about ride-hailing. They also lease EVs to fleet operators, helping other businesses get into the electric mobility game without the hassle.
Where They Stand Today
Fast forward to today — Snap-E isn’t some tiny startup barely making waves. As of September 2025, they operate over 1,100 EVs and, surprisingly for a startup, are EBITDA profitable since January this year. That’s no small feat in a market where heavy discounts and investor burn have been the norm.
On the numbers side, they boast:
- 1.2 million paying users
- 1.3 million app downloads
- 3.2 million rides completed
- Gross revenue of ₹120 crore
These figures speak volumes about their traction, especially considering how new they are.
Big Plans: Delhi NCR Next on the Map
Here’s where things get interesting. Snap-E isn’t content with just operating in a few cities. Their sights are set on the Delhi NCR region.
Over the past three months, they’ve already deployed 200 EVs in Delhi through a partnership with Rapido. And get this — they claim to have hit profitability from day one there. It sounds almost too good to be true, but given their fleet ownership model, it makes sense.
The next 12 months? Another 1,000 EVs are planned to join their fleet. That’s a serious commitment to scaling sustainably while meeting India’s growing hunger for green mobility options.
Why Their Model Works
Let’s be honest — most EV startups in India have been chasing a demand-led model. Basically, grab a bunch of drivers, throw them into an app, and hope for the best. Snap-E flips that. Their supply-led infrastructure strategy means they focus on owning and maintaining their vehicles and chargers.
Why does that matter? Because it gives them better control over service quality and cost management. And in a country where EV infrastructure is still a patchwork, owning chargers and vehicles reduces dependency on unreliable third-party setups.
It’s a smart, long-term play that might not grab headlines every day but builds solid resilience over time.
Read: Best EV Business Ideas
The Bigger Picture: EV Market in India
For those who don’t follow the EV space closely, here’s a quick reality check:
India’s EV market is expected to hit $18.3 billion by 2029, growing at a healthy 28.5% CAGR. By 2030, electric vehicles could account for more than 40% of India’s $100 billion automotive market.
And within this massive shift, EV ride-hailing is poised to capture a significant chunk of consumer demand. People are more conscious now — about the environment, running costs, and convenience. It’s a perfect storm for EV-first players like Snap-E.
What Makes Snap-E Stand Out?
Honestly, what impressed me most is their clear focus on operational efficiency. While other players are busy competing on discounts or driver aggregation, Snap-E has been quietly building a robust fleet, ensuring consistent vehicle uptime, and developing proprietary charging solutions.
Their platform doesn’t just help users hail a cab — it offers peace of mind. Want a clean, well-maintained EV that works every time? Snap-E seems to be betting that more Indian consumers will say “yes” to this.
Plus, their leasing arm is solving a real problem for fleet operators who want to go electric but don’t want to shell out lakhs upfront or manage complex logistics.
The Road Ahead
With this fresh funding in hand, Snap-E Cabs is clearly playing the long game. The next steps?
- Grow deeper in Delhi NCR
- Add 1,000 more EVs in the next 12 months
- Enhance tech integrations, especially around fleet management and driver support
- Strengthen their EV charging network
It’s safe to say that they aren’t just riding the green wave — they’re trying to shape it.
Why This Matters
Here’s the big takeaway: India’s EV space is still in its early innings, but players like Snap-E are proving that you don’t need to burn cash to win. Instead, owning your assets, focusing on service quality, and building infrastructure are solid moves toward profitability.
Other startups would do well to take notes.
As India’s urban mobility shifts toward sustainability, Snap-E Cabs looks like a strong contender not just for market share, but for becoming a brand people trust.
Discover more from NEXTWHATBUSINESS
Subscribe to get the latest posts sent to your email.