Chennai: Bike-Taxi Platform rapido Raises $180 million in Series-D round led by new investor Swiggywith the participation of TVS Motorand existing investors westbridge, Shell VenturesAnd Nexus Ventures, The startup is said to be worth around $800 million. Rapido had raised about $130 million prior to this round.
Rapido plans to deploy funds to strengthen its technology, teams in different regions and increase overall supply to cover more metros, tier-1, -2 and -3 cities. “Rapido will invest these funds across all three categories – bike-taxi, auto and delivery – to increase the company’s captain earnings and improve customer experience in over 100 cities,” the company said.
Swiggy’s participation in this round will build synergy between the two companies and Rapido said it will provide additional earnings for both Swiggy’s delivery executives and Rapido’s captains.
“We look forward to expanding the Swiggy experience across the country and enhancing the experience of our captains/customers, who are the backbone of our business. TVS Motor, who is very passionate about the future of EVs and mobility, will help us expand further,” said Arvind Sanka, Co-Founder, Rapido.
Rapido has over 25 million customers and over 1 million ‘captains’ (driver partners). The app allows you to book bike-taxis and autos.
Rapido plans to deploy funds to strengthen its technology, teams in different regions and increase overall supply to cover more metros, tier-1, -2 and -3 cities. “Rapido will invest these funds across all three categories – bike-taxi, auto and delivery – to increase the company’s captain earnings and improve customer experience in over 100 cities,” the company said.
Swiggy’s participation in this round will build synergy between the two companies and Rapido said it will provide additional earnings for both Swiggy’s delivery executives and Rapido’s captains.
“We look forward to expanding the Swiggy experience across the country and enhancing the experience of our captains/customers, who are the backbone of our business. TVS Motor, who is very passionate about the future of EVs and mobility, will help us expand further,” said Arvind Sanka, Co-Founder, Rapido.
Rapido has over 25 million customers and over 1 million ‘captains’ (driver partners). The app allows you to book bike-taxis and autos.