Snap-E Cabs, a fast-expanding electric mobility venture based in Kolkata. It has raised $2.5 million in a bridge funding round led by Inflection Point Ventures (IPV). The injection of fresh capital is to support the aggressive growth plans of the company. To expand its electric vehicle (EV) fleet and expand its footprint in Delhi NCR. A priority market for clean and sustainable transportation.
Snap E-Cabs: Key Features of the Round:
- Product expansion plans and product development focus
- Developing Snap-E’s proprietary charging infrastructure
- Building EV fleet scale in key urban markets
- Expansion Plans and Market Position
Snap-E Cabs runs more than 1,100 electric cabs across the country. Ferrying over 1.2 million passengers. The company has continuously enhanced its presence in the Delhi NCR area, recently adding 200 EVs in collaboration with Rapido.
Important facts regarding Snap E-Cabs growth are as follows:
- Achievement of EBITDA profitability as of January 2025, reflecting strong business fundamentals
- Expanding to include about 1,000 new electric vehicles in the next twelve months to cater to rising demand
- Distinct supply-driven model with fleet ownership and proprietary charging stations, minimizing vehicle downtime and enhancing reliability of service
Snap E-Cabs: Competitive Landscape and Cost Advantages
Snap-E rivals include industry leaders like Uber, Ola, Rapido, and Evera Cabs. Nevertheless, the asset-intensive business strategy of the company yields a competitive advantage. Some of the primary advantages are:
- Operating expense 60–70% less than petrol/diesel peers
- Charging hubs dedicated to reducing vehicle downtime
- Potential to sublease cars to other fleet operators, generating new revenue streams
Future Outlook
With the recent funding round, Snap-E plans to expand market penetration and intensify technological embedment. The company has already served more than 3.2 million rides. It is aiming for substantial fleet additions to fill supply deficits in electric ride-hailing.
ELCTRIK Speaks
Snap-E is poised to grow its EV fleet and promote sustainable urban mobility in Delhi NCR and the rest of the country. The recent funding round paves the way for innovation, market growth. This milestone in funding is a testament to Snap-E’s dedication to making ride-hailing go electric. Providing both eco-friendliness and economic sustainability for customers and the company.
