The Kolkata-based startup plans to deploy the fresh capital for product development, leasing more EV cars, and enhancing its operations in Delhi NCR.
Founded by Mayank Bindal and Mahendra Bindal in 2022, Snap-E Cabs is a subsidiary of Steelman Telecom Limited. It offers ride-hailing services by deploying electric cars and also leases its cars to fleet operators. The startup claims to operate 1,112 EV cars currently, up from about 500 in late 2024. It also operates its own EV charging infrastructure.
Last year, Snap-E Cabs raised $2.5 Mn in its pre-Series A funding round from AH Ventures Fund, Inflection Point Ventures and others. Following this, the startup entered the Delhi market through a strategic partnership with Rapido. As part of this partnership, the startup deployed 200 cars in the last 3 months.
“Over the next 12 months, we’re adding another 1,000 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 (that) empowers other demand aggregators, enhances utilisation, and de-risks margins,” CEO Bindal said.
The startup owns 100% of its EV fleet and has an exclusive hub of charging point operators (CPO). It is currently operational in Kolkata and Delhi NCR and has more than 1.2 Mn paying users. Snap-E Cabs claims to have achieved EBITDA profitability in January 2025.
Read the original announcement: https://ahventures.in/mailers/funding/snapebridgepr.html