Indian Uber Rival Rapido Raises $240M At $3B Valuation
Lloyd
Indian Uber Rival Rapido Raises $240M At $3B Valuation
Rapido Raises $240M as India’s Ride-Hailing War Heats Up India’s ride-hailing market is entering a new phase of aggressive expansion as Rapido secures $240 million in fresh funding at a $3 billion valuation. The investment signals growing confidence in the country’s mobility sector despite ongoing concerns around profitability, regulation, and fierce pricing battles. Rapido plans to use the capital to expand into more cities, strengthen its driver network, and improve platform technology as competition with Uber and Ola intensifies across India. Rapido’s Latest Funding Push Signals Investor Confidence Rapido’s new funding round arrives at a critical moment for India’s transportation industry. The Bengaluru-based company has become one of the fastest-growing mobility startups in the country, largely by focusing on affordable transportation options like bike taxis and autorickshaws. The latest investment round was led by Prosus, with participation from existing backers including WestBridge …
