Indian Ride-Hailing Service Rapido Reaches $3 Billion Valuation After New Funding Round
Indian ride-hailing company Rapido has raised $240 million in a new investment round, bringing its total valuation to $3 billion. The funding was led by Prosus, with participation from existing investors like WestBridge Capital and Accel. Rapido plans to use the funds to expand its operations, enhance its driver network, and improve platform technologies, focusing on high-demand regions with insufficient supply. Founded in 2015, Rapido operates in over 400 cities in India, offering affordable transport options such as motorcycles and auto-rickshaws. The company is also exploring the food delivery sector through its subsidiary, Ownly. 
