Series E fresh infusion
- Bike‑taxi and urban mobility startup Rapido is set to raise ₹125 crore (~$15 million) from Nexus Venture Partners by issuing 23,872 Series E preference shares at ₹52,467 each
Unicorn valuation confirmed
- This latest investment builds on a ₹250 crore infusion from Prosus earlier in the Series E round, taking total funding in this cycle to $200 million and valuing Rapido at approximately $1.1 billion
Moving into food delivery (Ownly)
- Rapido is gearing up to launch its own food‑delivery platform called Ownly, where restaurants will pay a fixed fee per order. The Nexus investment supports this strategic diversification, positioning Rapido to compete with Zomato and Swiggy
Record-scale operations
- On May 24, 2025, Rapido clocked a milestone of 4 million rides in a single day, and currently averages 3.5 million daily rides, highlighting robust user engagement
Strong financial performance
- In FY 2024, Rapido generated ₹648 crore in revenue, growing 46 % year-on-year, while reducing losses by 45% to ₹371 crore—signalling improved unit economics
Strategic growth & service extension
- With deep investor support and operational scale, Rapido is well-positioned to expand its mobility offerings and tap into adjacent verticals like food delivery, broadening its market footprint.