NEW DELHI: Rapido, a mobility startup has raised $200 million in its Series E funding round led by WestBridge Capital, a prominent investment firm focused on investments in India.
This latest investment elevates Rapido’s post-money valuation to $1.1 billion.
Rapido, which competes with Uber and Ola, said that the newly raised funds will be strategically allocated to expanding the company's operation across India.
Aravind Sanka, Co-founder of Rapido said, “With this new infusion of capital, we are eager to explore and expand our offerings, ensuring we meet the evolving needs of our customers."
Sumir Chadha, co-founder and Managing Partner at WestBridge Capital, said "From dominating bike taxis to making significant strides into 3W autos and cabs, their growth is a testament to their operational rigour and relentless focus on customer and captain satisfaction."