Swiggy set to lead $200-M round in bike taxi service Rapido

Food delivery unicorn Swiggy is in advanced stages to lead a USD 200 million round in bike taxi service Rapido. It's likely to invest around USD 100 million whereas the remaining USD 100 million would come from new and existing investors. The investment would offer exposure to Swiggy in the mobility business and strengthen its food delivery (hyperlocal) logistics capabilities. The food delivery and quick commerce company is also in late-stage talks to raise a new round at USD 10 Billion.