Rapido, India’s largest ride-sharing platform, has secured $200 million in Series E funding, led by WestBridge Capital, with participation from existing investor Nexus and new investors Think Investments and Invus Opportunities. This funding round brings Rapido’s post-money valuation to USD 1.1 billion.
Aravind Sanka, Co-founder of Rapido, expressed enthusiasm about the new capital, stating, “This investment allows us to further explore and expand our offerings, ensuring we meet the changing needs of our customers. Over the past year, we’ve seen significant growth, with daily rides increasing to 2.5 million.”
He added that the funding will help Rapido continue to innovate and improve services, enhancing urban mobility and better serving customers.
Sumir Chadha, co-founder and Managing Partner at WestBridge Capital, highlighted Rapido’s growth since the initial investment five years ago, noting the team’s dedication to operational efficiency and customer satisfaction. He emphasized Rapido’s evolution from dominating bike taxis to expanding into three-wheeler autos and cabs, positioning it as one of India’s leading consumer internet platforms.
The new funds will be used to expand Rapido’s operations across India and scale its technology platform for improved service. Rapido aims to grow in all categories, including bike-taxis, three-wheelers, and taxis.
