Kolkata’s Snap-E Cabs Secures $2.5 Mn To Accelerate EV Expansion | Kolkata Calling

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Thu, Sep 11, 11:50 PM IST

Kolkata’s very own Snap-E Cabs, a fast-growing electric mobility startup, has raised $2.5 Mn (around ₹22 Cr) in a bridge funding round led by Inflection Point Ventures, with 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 subsidiary of Steelman Telecom Limited. The company offers eco-friendly ride-hailing services by deploying electric cars and also leases EVs to fleet operators. In just a short span, the startup has scaled to 1,112 electric cars (up from ~500 in late 2024) and built its own charging infrastructure.

 

With this fresh funding, Snap-E Cabs plans to:

  • Lease and deploy more EVs
  • Expand operations in Delhi NCR
  • Strengthen its supply-led infrastructure model to empower demand aggregators and enhance utilisation

 

The startup has already made strong strides — it now serves over 1.2 Mn paying users, owns 100% of its EV fleet, and achieved EBITDA profitability in January 2025. Last year, Snap-E also entered the Delhi market through a strategic partnership with Rapido, deploying 200 EVs in just 3 months.

 

Snap-E’s growth comes at a time when India’s EV mobility space is undergoing major shifts. While players like BluSmart have exited, others such as Evera Cabs and Uber are expanding their EV fleets. With the Indian EV market projected to touch $132 Bn by 2030, Snap-E Cabs is well-positioned to play a pivotal role in shaping sustainable mobility.

 

This milestone is a proud moment for Kolkata’s startup ecosystem, proving once again that the city is emerging as a hub of innovation, entrepreneurship, and green technology.

 

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