Rapido enters unicorn club with $200 mn fundraise led by WestBridge Capital

Bengaluru: Ride-sharing platform Rapido has raised $200 million in its series E funding round led by WestBridge Capital at a valuation of $1.1 billion, the company said in a statement on Thursday. With this fundraise, the company marks its entry into the coveted unicorn club or a startup with a billion-dollar valuation.

The round also saw participation from other new investors including Think Investments and Invus Opportunities and existing investor Nexus Ventures. The new capital will help Rapido expand operations across India and scale its technology platform to enhance service delivery. The company further plans to grow its operations across all categories, including bike-taxis, three-wheelers, and taxicabs.