Rapido, India’s largest ride-sharing platform, has raised $200 million in its Series E funding round, pushing its valuation to over $1.1 billion. The funding round was led by WestBridge Capital, with participation from Nexus, Think Investments, and Invus Opportunities.
With this capital infusion, Rapido aims to accelerate its expansion across India and strengthen its position in urban mobility. The platform has seen impressive growth, with daily rides surging to 2.5 million, and its GMV increasing 2.5 times over the past year.
Aravind Sanka, Co-founder of Rapido, expressed excitement about the funding: “This investment will help us expand our offerings and continue innovating to meet customer demands, enhancing urban mobility for millions.”Sumir Chadha, Managing Partner at WestBridge Capital, commended Rapido’s growth, noting its success in bike-taxis and expansion into auto-rickshaws and cabs. “Rapido’s growth is a testament to their operational rigor and customer satisfaction focus,” he said.
