Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

Google News

Bike-Taxi Platform Rapido Raises $50 Mn

Meet the voice behind Indo-Asian News Service (IANS), a storyteller navigating the currents of global events with precision and depth. Crafting narratives that bridge cultures, IANS brings you the pulse of the world in every word

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

Bike-taxi platform Rapido on Monday announced it had secured $52 mn in its latest round of funding to make strategic investments in cutting-edge innovations, technology, people, and supply.

The company said its auto service launched in 26 cities had recorded a growth of 4 times and, overall, it has witnessed a strong recovery of 85 percent as compared to pre-Covid.

Today, Rapido is the largest bike taxi player in the country operating in around 100 cities. From 15 million users in the last two years, we now plan to increase that number to 50 million in the next 18 months and continue providing affordable transportation for the masses, – Aravind Sanka, Co-Founder, Rapido.

The new funding round saw participation from new investors, including Shell Ventures; Yamaha; Kunal Shah, Founder, CRED; Amarjit Singh Batra, CEO, Spotify India; and Positive Moves Consulting.

The round also saw PawanMunjal, Hero Group, Westbridge, Nexus Venture, and Everblue Management as existing investors.

The company previously raised a total funding of $80 million from various investors., including Westbridge AIF, Nexus Ventures, Sabre Investment, Skycatcher LLC, Bace Fund, and Integrated Growth Capital, among others.

The company has grown 10 times in FY 2020.


Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic