Private Equity Fund Investments
Bike-taxi app Rapido raises $52-M from WestBridge, Yamaha, others at $235-M valuation
Bengaluru-based bike-taxi platform Rapido has raised USD 52 million in a round led by Westbridge Capital, which invested USD 30-35 million. Shell Ventures, Yamaha, Cred's founder Kunal Shah, Spotify India CEO Amarjit Singh Batra and Positive Moves Consulting were the new investors who joined in the funding round. Existing investors Hero MotoCorp chairman Pawan Munjal, Nexus Venture Partners and Everblue Management also participated in the round that values the startup at around USD 235 million. Rapido will use the fresh funds for brand building, hiring talent, and going deeper into existing markets across its three offerings — bikes taxis, auto services and logistics and on-demand delivery.
From the Venture Intelligence PE-VC Deal Database: In May-21, Rapido raised $43-M from WestBridge, Nexus Venture Partners and others. Between Jun-16 and May-21, the company had raised over $78 million from investors including BAce Capital, Integrated Capital, WestBridge, Nexus Venture Partners, Sehgal Family Office, Quilvest, Tessellate Tech Ventures, AdvantEdge Partners, Astarc Ventures and Others.
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