PE Fund Investments
Bike-taxi aggregator Rapido attracts $120-M from WestBridge Capital; turns unicorn
Bengaluru-headquartered ride-hailing startup Rapido has attracted USD 120 million (about INR 1,000 crore) from existing investor WestBridge Capital at a post-money valuation of over USD 1 Billion, making it the third unicorn of 2024.A US-based family office and a UK-based fund are in talks with the company to invest an additional USD 20 million.Started by Pavan Guntupalli, Aravind Sanka and Rishikesh SR in 2015, Rapido primarily operates as a bike taxi aggregator. Its offerings also include auto rickshaw and taxicab hailing, parcel delivery, and third-party logistics services.
Between Jun-16 and Apr-22, Rapido had raised over USD 350 M.
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