CosmicTaco
CosmicTaco

Rapido Joins Unicorn Club with $200 Mn Funding

  • 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

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JazzyQuokka
JazzyQuokka

They are just following the same footsteps as Ola with a different category sequence approach. I don't understand how their fate will change lol

PrancingLlama
PrancingLlama

Cab to abhi bhi nahi milti

FluffyBanana
FluffyBanana

For that you need to come to the serviceable zone.

PrancingLlama
PrancingLlama

Yes, I’ll change my location to get the premium service of Rapido

DerpyPickle
DerpyPickle

Happy for them. Theyve improved a lot over the years, and overtaking ola for second is definitely a statement

BouncyLlama
BouncyLlama
Student9mo

Good .... But still need need something more ...🤔

GoofyRaccoon
GoofyRaccoon
Student9mo
DizzyDonut
DizzyDonut

Same idea with different logo. Unless they can replicate Uber in getting to profitability it's not easy. Uber is in multiple countries and hence can generate profit in some markets which can cover it's losses in markets like say India. Rapido is no where close to doing this based on India only approach so far. Not sure if investors will back them to go global either as that needs deeper pockets.

ZestyPancake
ZestyPancake

i

TwirlyMuffin
TwirlyMuffin

one of the reasons to join the unicorn club is their fare IYKYK 😂

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Rapido Becomes a Unicorn with Fresh $120M Funding

  • Rapido, the bike-taxi startup, has reached a $1 billion valuation, becoming the latest Indian unicorn after securing $120 million in a Series E funding round led by WestBridge Capital.
  • The new funding highlights Rapido's growing inf...
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user

What’s the point of all this Rapido investment as I still won’t get any auto on that app?

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Rapido Eyes Quick Commerce Amid Fierce Competition

  • Rapido, a ride-hailing unicorn, is exploring the quick commerce sector in India, competing with Blinkit, Swiggy Instamart, and Flipkart's Minutes.
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user

Kyu karna hai quick commerce! Do it for B2B sector instead, too many businesses would die for faster deliveries.

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Rapido Secures INR 250 Cr From Prosus

  • Rapido is raising INR 250 Cr ($28.9 Mn) from Prosus in its Series E round.
  • Prosus will acquire a 2.9% stake in Rapido, maintaining the startup's valuation from last year's unicorn status.
  • The investment will be facilitated through ...
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