Latest News | Snap-E Cabs Raises USD 2.5 Million

New Delhi, Feb 5 (PTI) EV Ride-hailing platform Snap-E Cabs on Monday said it has raised USD 2.5 million (about Rs 20 crore) in a funding round led by Inflection Point Ventures.

The company plans to allocate funds raised in the Pre-Series A Round for talent acquisition to support growth, invest in tech upgrades and the introduction of new tech-enabled services, and expand operations into additional geographies, it said in a statement.

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Currently operating with 600 EVs in Kolkata, Snap-E plans to expand its fleet by adding up to 400 EVs by the end of FY24.

Looking ahead to FY25, the company aims to extend services to 2-3 more cities, adding 1,500-2,000 EVs, signalling significant scale up in operations.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)