NewsAnchor

Rapido Joins Unicorn Club with $200 Mn Funding

NewsAnchor · 2024-09-05T10:57:50.870169+05:30

- 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/)

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