Rapido becomes unicorn with $120 million fresh funding from WestBridge.
Economy Business
Rapido, the prominent bike taxi platform, has achieved unicorn status after securing $120 million in fresh funding from WestBridge Capital. This significant investment will accelerate Rapido's expansion and strengthen its market position in the rapidly growing mobility sector. The funding will be used to enhance technology, expand service areas, and drive user growth. As a unicorn, Rapido joins an elite group of startups valued at over $1 billion, marking a major milestone in its growth journey. This development highlights the increasing investor confidence in the company's potential and the future of bike taxi services.
Rapido plans to diversify services beyond bike taxis, including scooter rentals and logistics solutions.
The company aims to enhance user experience with advanced safety features and app improvements.
Founders: Aravind Sanka, Pavan Guntupalli, Rishikesh SR
Headquarters: Karnataka, India
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