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Rapido plans to raise $100M funding in a round led by WestBridge Capital to expand its services and increase its valuation to $900M

Apr 05, 2024over 1 year ago

Amount Raised

$100 Million

BengaluruTransportation

Investors

Shell VenturesNexus VenturesTvs MotorsSwiggyWest Bridge Capital

Description

Rapido is seeking to raise $100M in funding from WestBridge Capital and other investors to expand its services and increase its valuation to $900M. The company has received commitments of around $70M and is approaching Indian family offices for additional support.

Company Information

Company

Rapido

Location

Bengaluru, Karnataka, India

About

We’re India’s largest Bike Taxi App service and making quick strides in app-based auto rickshaws and delivery, among others. We’re on a mission to revolutionize the way people commute. And while we’re at it, we aim at creating a workplace that is fun, inclusive and perfectly fits all!

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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