In a major milestone for India’s urban mobility sector, Rapido, the popular ride-sharing platform, has secured $200 million in its Series E funding round, catapulting its valuation to $1.1 billion. This achievement marks Rapido’s entry into the prestigious unicorn club, solidifying its position as a key player in the country’s transportation landscape.
The funding round was spearheaded by WestBridge Capital, with participation from existing investor Nexus and new backers Think Investments and Invus Opportunities. This substantial investment underscores the confidence investors have in Rapido’s growth trajectory and future potential.
Founded in 2025, Rapido has come a long way from its initial focus on bike-taxis. The company has successfully diversified its offerings to include auto-rickshaws and taxi-cabs, expanding its footprint to over 100 cities across India, including tier 2 and 3 markets.
Aravind Sanka, Co-founder of Rapido, expressed enthusiasm about the company’s growth, noting that daily rides have surged to 2.5 million. He emphasized that the new funding will fuel further innovation and service improvements, ultimately enhancing urban mobility for all users.
The fresh capital injection will be strategically deployed to:
- Expand operations across India
- Scale up the technology platform
- Enhance service delivery across all categories (bike-taxis, three-wheelers, and taxi-cabs)
Sumir Chadha, co-founder and Managing Partner at WestBridge Capital, praised Rapido’s journey, highlighting the company’s transformation into India’s leading low-cost mobility platform. He commended the team’s operational rigor and focus on customer and captain satisfaction, factors that have positioned Rapido among India’s most used consumer internet apps.
This funding round not only validates Rapido’s business model but also signals a bright future for India’s startup ecosystem, particularly in the urban mobility sector. As Rapido continues to innovate and expand, it is poised to play a pivotal role in shaping the future of transportation in India, offering affordable and efficient mobility solutions to millions of users across the country.
With its newfound unicorn status and robust financial backing, Rapido is well-positioned to accelerate its growth, tackle urban transportation challenges, and potentially expand into new markets. This success story serves as an inspiration for other Indian startups and underscores the country’s growing prominence in the global tech and mobility landscape.