Snap-E Cabs raises USD 2.5 million in Pre-Series A funding led by Inflection Point Ventures
The company plans to invest in tech upgrades and the introduction of new tech-enabled services, and expand operations into additional geographies.
By Autocar Professional Bureau
2703 Views
Snap-E Cabs, a Kolkata-based EV Ride-hailing platform, has raised USD 2.5 million in a Pre-Series A Round led by Inflection Point Ventures.
The company plans to allocate funds for talent acquisition to support growth, invest in tech upgrades and the introduction of new tech-enabled services, and expand operations into additional geographies.
Rahul Wagh, Managing Director, Inflection Point Ventures said, “Enabling policies both, at a national and state level Indian government has made the environment conducive for e-mobility in India, helping drive towards its goal of achieving 30 percent electrification of the country's vehicle fleet by 2030. This shift has given rise to numerous business opportunities and models in the EV sector.”
The company which claims to maintain less than 5% downtime, currently operates with 600 electric vehicles in Kolkata and aims to add 300-400 EVs by the end of FY24.
The company wants to extend services to 2-3 additional cities, adding 1500-2000 EVs in FY25, as per the press release.
RELATED ARTICLES
BPCL and GPS Renewables Form Joint Venture to Develop Compressed Biogas Plants
Arunima Pal
23 Apr 2025
The joint venture will develop 8–10 CBG plants in Bihar, Odisha, Punjab, Uttar Pradesh, and West Bengal.
Popular Vehicles' Subsidiary to Set Up Four Ather Facilities in Maharashtra
Arunima Pal
23 Apr 2025
Two of the new facilities will be located in Nagpur, while the remaining two will be in Chandrapur and Chhatrapati Sambh...
Montra Electric Opens First e-SCV Dealership in Jaipur in Collaboration with Ensol Infratech Pvt Ltd
Sarthak Mahajan
23 Apr 2025
Montra Electric establishes its first e-SCV dealership in Jaipur through a partnership with Ensol Infratech, aiming to i...
