Rapido, one of India’s largest bike taxi platforms, today announced that it has raised USD 180 million in its latest series D round of funding led by the new investor Swiggy. The round also saw investment from TVS Motor Company and existing investors like Westbridge, Shell Ventures, and Nexus Ventures also took part in the fundraising. The company says that these funds will be invested in all its three categories, namely bike-taxi, auto, and delivery.

Rapido adds that the funds would be leveraged to bolster Rapido’s technology, strengthen its teams across diverse sets of capabilities, increase overall supply to create an enhanced consumer experience across a larger audience base in metros, tier 1, 2, and 3 cities, and ensure seamless last-mile connectivity. The company aims to enhance its captain earnings, improve customer experience in 100+ cities the company operates in, and establish itself as an alternative mode of daily commuting.
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Announcing the fund-raising, Aravind Sanka, Co-Founder, Rapido, said, “We, at Rapido, are grateful to our existing and new investors for giving impetus to our vision. We look forward to learning from Swiggy’s experience to scale up throughout the country and enhance our captains’ / customers’ experience, who are the backbone of our business. Besides, TVS Motor, who are very passionate about EVs and the future of mobility, will help us in further expansion.”

Sriharsha Majety, Co-founder and CEO of Swiggy, added, “Swiggy and Rapido share a vision to build a logistics platform that empowers riders through more opportunities and higher earnings. While we’ve already been working together, this investment facilitates closer alignment to leverage the synergies between the platforms and improve the value we provide to both consumers and delivery executives/captains across the country.”
Speaking on the occasion, Sudarshan Venu, Joint Managing Director, TVS Motor Company, said, “India’s growth and particularly that of the digital economy is driving urban transformation and we are very excited about it. TVS Motor has always been at the forefront of driving the mobility transformation and today, we are glad to partner with Rapido, an emerging leader in the ride-sharing segment across India led by its dynamic founders Aravind, Pavan and Rishikesh, I am sure this partnership will help us drive common initiatives and grow together.”
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