Ride-sharing platform Rapido has announced it has successfully raised approximately $200 million in its Series E funding round, spearheaded by WestBridge Capital. The round also included contributions from existing investor Nexus as well as new participants Think Investments and Invus Opportunities. This latest investment has propelled Rapido’s post-money valuation to $1.1 billion.
The new capital infusion will be directed towards expanding Rapido’s operations across India and scaling its technology platform to improve service delivery. The company plans to extend its reach across all its service categories, including bike-taxis, three-wheelers, and taxi cabs.
Aravind Sanka, Rapido’s Co-founder, expressed enthusiasm about the growth opportunities the funding will unlock. “With this new infusion of capital, we are eager to explore and expand our offerings, ensuring we meet the evolving needs of our customers. Over the past year, we’ve seen our daily rides surge to 2.5 million,” Sanka said.
Sumir Chadha, Co-founder and Managing Partner at WestBridge Capital, highlighted Rapido’s transformation into India’s leading low-cost mobility platform since their initial investment five years ago. “Rapido’s dominance in bike taxis and its expansion into auto and cab services reflect its operational rigor and commitment to customer satisfaction. This latest funding round underscores our continued support for their journey,” Chadha noted.
Since its launch nine years ago, Rapido has achieved over 150 percent year-on-year growth. Originally focused solely on bike-taxis, the company has diversified into auto and cab services, strengthening its value proposition. Additionally, Rapido has expanded its footprint beyond major metro cities, now serving over 100 cities, including tier-II and III locations across India.
