2 weeks ago
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Mobility level Rapido connected Friday (May 15, 2026) announced raising $240 cardinal successful a backing circular led by Dutch concern steadfast Prosus to grow request by creating caller markets and put successful technology.
WestBridge Capital and Accel, among different investors besides participated successful the backing round, Rapido (Roppen Transportation Services Private Limited) said.
“With this caller superior infusion, the institution has truthful acold raised $730 cardinal successful superior and secondary financing. This transaction values the institution astatine $3 cardinal connected post-money basis,” Rapido, the company, said.
"This concern is astir accelerating our quality to unlock some these structurally. We are going deeper into markets wherever request exists, but proviso remains fragmented, gathering the density that gives captains reliable, predictable earnings," said Aravind Sanka, Co-founder, Rapido.
Founded successful 2015, Rapido operates successful much than 400 cities. The platform, Mr. Sanka said, volition sharpen its absorption connected strengthening supply, gathering technologies, and expanding the multi-modal footprint, with acold greater velocity and intent.
“The superior volition beryllium deployed to grow request by creating caller markets and deepening existing ones, turn the skipper web and grow earning opportunities astatine scale, and put successful the exertion and radical that powerfulness both,” the institution said.
This includes deepening Rapido's footprint crossed high-growth markets, strengthening archetypal and last-mile connectivity, and improving level ratio to present a much reliable and seamless experience, alongside focused investments successful endowment to enactment semipermanent scale.
According to Rapido, arsenic India's maturation shifts beyond metros, 2 structural gaps are becoming much pronounced: entree to reliable, affordable mobility, and entree to flexible, dignified earning opportunities.
“This concern comes astatine a clip erstwhile request crossed tier 2+ markets is accelerating adjacent arsenic the institution continues to deepen its mobility offering successful tier 1 cities,” Rapido said,“ adding it enables the institution to grow its beingness successful these high-growth regions by unlocking caller request corridors portion importantly expanding livelihood access.”
As portion of its adjacent phase, the institution said, it is besides strengthening its absorption connected inclusivity, with targeted initiatives to onboard much women captains and heighten information and accessibility for women riders.
