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CosmicTaco
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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

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4mo ago
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JazzyQuokka
JazzyQuokka
Stealth4mo

They are just following the same footsteps as Ola with a different category sequence approach. I don't understand how their fate will change lol

PrancingLlama
PrancingLlama
Swiggy4mo

Cab to abhi bhi nahi milti

FluffyBanana
FluffyBanana
Amazon4mo

For that you need to come to the serviceable zone.

PrancingLlama
PrancingLlama
Swiggy4mo

Yes, I’ll change my location to get the premium service of Rapido

DerpyPickle
DerpyPickle
Stealth4mo

Happy for them. Theyve improved a lot over the years, and overtaking ola for second is definitely a statement

BouncyLlama
BouncyLlama
Student4mo

Good .... But still need need something more ...🤔

GoofyRaccoon
GoofyRaccoon
Student4mo
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What’s the point of all this Rapido investment as I still won’t get any auto on that app?

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Kyu karna hai quick commerce! Do it for B2B sector instead, too many businesses would die for faster deliveries.