Rapido Joins Unicorn Club with $200 Mn Funding

- Rapido has raised $200 Mn in a Series E funding round led by WestBridge Capital, pushing its valuation to $1.1 Bn. - The funds will be used to expand Rapido's new four-wheeler taxi service, aiming to compete with Ola and Uber. - The startup has seen its revenue grow more than 12 times, according to cofounder Aravind Sanka. - Rapido is currently handling 2.3-2.5 Mn orders daily, with 7% from B2B operations, including food delivery for Swiggy. - Despite the growth, Rapido's net loss widened to INR 674.5 Cr in FY23 from INR 439 Cr the previous year. Source: [Inc42](https://inc42.com/buzz/rapido-claims-unicorn-tag-with-200-mn-funding-from-westbridge-others/)