{"id":838633,"date":"2024-07-30T09:19:05","date_gmt":"2024-07-30T03:49:05","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=838633"},"modified":"2024-07-30T09:26:59","modified_gmt":"2024-07-30T03:56:59","slug":"rapido-enters-unicorn-club-with-120-million-round-led-by-westbridge","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/07\/30\/rapido-enters-unicorn-club-with-120-million-round-led-by-westbridge\/","title":{"rendered":"Rapido enters unicorn club with $120 million round led by WestBridge"},"content":{"rendered":"<p>Swiggy-backed bike taxi service startup Rapido has turned unicorn with a $120 million Series E funding round led by its largest backer, WestBridge Capital, which has put in capital through three different investment vehicles. A unicorn is a privately held startup company with a current valuation of $1 billion or more. <\/p>\n<p>The board at Rapido has passed a special resolution to allot 10 equity shares, 95,479 Series E, and 95,489 Series E1 compulsory convertible preferred shares (CCPS) at an issue price of Rs 52,467 per share for a consideration of Rs 1,002 crore or $120 million, according to an Entrackr report, which has quoted the company\u2019s regulatory filings with the Registrar of Companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Swiggy-backed bike taxi service startup Rapido has turned unicorn with a $120 million Series E funding round led by its largest backer, WestBridge Capital, which has put in capital through three different investment vehicles. A unicorn is a privately held startup company with a current valuation of $1 billion or more. The board at Rapido has passed a special resolution to allot 10 equity shares, 95,479 Series E, and 95,489 Series E1 compulsory convertible preferred shares (CCPS) at an issue price of Rs 52,467 per share for a consideration of Rs 1,002 crore or $120 million, according to an Entrackr [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[9,34,4],"tags":[],"class_list":["post-838633","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-it-2-business-standard-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/838633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=838633"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/838633\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=838633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=838633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=838633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}