Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.
TVS sells its stake in bike-taxi operator Rapido for Rs.288-Cr to Accel, Prosus
Startup News Roppen Transportation Services Pvt Ltd Rapido
Chennai-based, publicly listed TVS Motor Company has divested its stake in Bengaluru-based bike-taxi startup Roppen Transportation Services Pvt Ltd ( Rapido ) for INR 287.93 crore. The stake was sold to Accel India VIII (Mauritius) Ltd and MIH Investments One BV (Prosus).TVS Motor sold 11,997 Series D CCPS to Accel India VIII (Mauritius) for INR 143.96 crore and 10 equity shares along with 11,988 Series D CCPS to MIH Investments One BV for INR 143.97 crore.
In Apr 2022, Rapido had attracted about USD 140 M from Bundl Technologies Private Limited and TVS Motor Company Limited as part of the USD 177 M Series D round with participation from WestBridge, Shell Technology Ventures and Nexus Venture Partners.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.