WestBridge Capital leads series B funding round with ₹391 cr in bike taxi startup Rapido

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Rapido, a Bengaluru-based bike taxi startup, has bagged ₹391 crore in a series B funding round led by WestBridge Capital, along with Nexus.

According to sources, the WestBridge Capital will be investing ₹222.6 crore and Nexus will be investing ₹56 crore among others.

The existing investors of the platform also participated in the round, which include Integrated Capital Growth Limited, BAce Capita, Shunwei Capital, Sabre Partners, Rashmi Kwatra.

Rapido was founded by Rishikesh SRPavan Guntupalli and Aravnind Sanka in 2015. The company has currently 10,000 active drivers, including women.

Anyone with a two-wheeler license, a bike, a vehicle registration certificate, and bike insurance can register themselves as a Rapido Captain.

The company claims that as of January 2019, it does 2.5 million orders a month and plans to grow to 20 million order by the end of 2019.

Some of the significant players in the similar category include UberMoto, Ola, Vogo, Gojek and many more.

Also read: Rapido acqui-hires Mumbai-based analytics startup Vahanalytics

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Bhutanese FM meets Shah, Jaishankar

New Delhi, Nov 19 (IANS) Bhutanese Foreign Minister Tandi Dorji on Monday met Union Home Minister Amit Shah, and...

NBFCs can go for insolvency resolution post MCA notification

New Delhi, Nov 19 (IANS) The Reserve Bank can now direct resolution of non-banking financial companies (NBFCsfor with assets worth at least Rs 500...

Mrunal Thakur joins Shahid Kapoor in ‘Jersey’

Mumbai, Nov 19 (IANS) Actress Mrunal Thakur, who wooed the audience with her performances in movies like "Super 30" and "Batla House", will now...

Rani Mukerji: Without self-doubt, you can’t move ahead in life

By Durga ChakravartyNew Delhi, Nov 19 (IANS) She has been around in Bollywood for over two decades and has been touted as one of...

‘Libyan conflict inflicts devastating impact on health care’

United Nations, Nov 19 (IANS) The UN envoy for Libya has reported "devastating impact" that the escalated Libyan conflict this year has inflicted on...
- Advertisement -

More Articles Like This