Private Equity

PE-VC Fund Investments

Ride-hailer Rapido raises $240-M from Prosus, WestBridge, Accel at $3-B valuation

Economic Times   Rapido  

Bengaluru-based mobility platform Rapido has raised USD 240 million in a funding round led by Prosus, with participation from other existing investors WestBridge and Accel India, at a USD 3 Billion valuation. This transaction is part of a larger USD 730 million financing round that the company is currently finalising, which includes both primary and secondary components.Founded in 2015 by Aravind Sanka, Pavan Guntupalli and Rishikesh SR, Rapido claims a presence across over 400 cities.The new funds will be used to create new markets and deepen its presence in existing ones, expand its captain network to increase earning opportunities, and invest in its underlying technology and personnel. The capital will also support the company’s efforts to strengthen its first- and last-mile connectivity services.

Between Jun 2016 and Feb 2026, Rapido had attracted about $1-B from AdvantEdge Partners, Astarc Ventures, Skycatcher, Tessellate Tech Ventures, Integrated Capital, Sol Primero, Nexus Venture Partners, Quilvest, Sehgal Family Office, BAce Capital, Shunwei Capital, WestBridge, Shell Technology Ventures, Yamaha Motor Ventures, Think Investments, Prosus Ventures, Accel India and others.For FY25, Rapido had reported about INR 910 Cr in Operating Income and about INR 240 Cr in Net Loss.