Rapido, India’s leading ride-sharing platform, has raised $200 million in its latest Series E funding round, boosting its valuation to over $1.1 billion. The round was led by WestBridge Capital, with participation from existing investor Nexus and new investors Think Investments and Invus Opportunities.
This funding comes on the back of rapid user growth, with Rapido now facilitating 2.5 million daily rides, a 2.5x surge in GMV over the past year. The investment will be used to expand Rapido’s operations and enhance its technology platform, strengthening its leadership in urban mobility.
Co-founder Aravind Sanka said, “This investment empowers us to innovate and expand our offerings to meet evolving customer needs. Our growth has been tremendous, and we are committed to enhancing urban mobility for everyone.”WestBridge Capital’s Managing Partner, Sumir Chadha, praised Rapido’s capital-efficient scale-up, noting its dominance in bike taxis and expansion into auto and cab services. With a presence in over 100 cities, Rapido is poised for continued growth in India’s urban and semi-urban markets.
