Bike taxi startup has reportedly raised $180 million in a new round of funding led by聽 , another India-based startup-delivery company.
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The new round of funding brings Rapido鈥檚 valuation to more than $800 millionRapido, which was founded in 2015, last raised money with a Series C round in August 2021.聽
Rapido鈥檚 platform lets users book bike rides to avoid heavy traffic. The company is based in Bangalore, India, and backed by investors including and
VC-backed companies based in India have raised nearly $13 billion so far this year, per Crunchbase data.
The investment from Swiggy makes sense, given the company is in the delivery and logistics space. Swiggy is India鈥檚 second-largest unicorn, per The Crunchbase 糖心视频, with a valuation of $5 billion.聽
Swiggy started investing in other Indian startups about three years ago, such as , but this is its first investment in Rapido.
Rapido has raised more than $309 million as a private company. Other investors in the Series D round include , Westbridge, and Nexus Ventures, according to TechCrunch.
Illustration: Li-Anne Dias
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