PE Fund Investments
Bike taxi operator Rapido raises $177.5 M from Swiggy, TVS Motor, others
Bengaluru-based bike taxi operator Rapido has raised about USD 177.5 million in a funding round led by new investors including food delivery aggregator Swiggy and publicly listed TVS Motor Company. Rapido's existing investors – WestBridge Capital, Nexus Ventures, Shell Ventures – also participated in the round. While Swiggy invested $124.6 million as part of the round (in exchange for 1,99,948 Series D CCPS and 10 equity shares), TVS Motor invested $15 Million. WestBridge Capital invested $30 million, while the balance amount was invested by Nexus Ventures. Swiggy is estimated to hold a 30% stake in Rapido, post the latest round. Swiggy currently holds 1,99,958 shares (including equity shares & preference shares) of the startup.
From the Venture Intelligence PE-VC Deal Database: Between Jun-16 and Aug-21, Rapido had raised over USD 160 M from Westbridge Capital, Shell Ventures, Yamaha, Nexus Venture Partners, Everblue Management, Integrated Capital, BAce Capital, Sehgal Family Office, Astarc Ventures, AdvantEdge Partners, Tessellate Tech Ventures and Positive Moves Consulting. Individual investors include Ankit Nagori, Anupam Mittal, Harish Bahl, Rajan Anandan, Cred's founder Kunal Shah, Spotify India CEO Amarjit Singh Batra and Hero MotoCorp chairman Pawan Munjal.
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