The total investment is one of the largest funding rounds raised by a startup in recent times in a market where big capital infusions are rare except for a few deals like quick commerce player Zepto, which last raised $450 million in pre-IPO funding in October 2025, is on a multi-billion dollar funding spree since 2024 and recently saw AI startup Neysa raise funds from Blackstone in a combination of equity and debt. The combination saw the company lead a $1.2 billion investment into the firm. financing. Rapido has raised a total of $700 million in primary funding since its founding in 2015. The Bengaluru-based startup became a unicorn in July 2024 after securing $120 million funding from Westbridge Capital at a valuation of $1 billion. The announcement comes amid Uber CEO Dara Khosrowshahi’s visit to India, which he once said was one of the toughest markets. Rapido has been rapidly gaining market share and is understood to have overtaken Uber and Ola in terms of monthly active users between January and February this year. In a statement on Friday, Rapido said it will use the funds to expand into new markets and broaden its footprint in existing markets, in addition to growing its network of drivers, investing in technology and people. “This investment comes at a time when demand is accelerating in Tier 2+ markets, while Rapido is deepening its mobility offering in Tier 1 cities,” the company said, adding that the company has scope to access affordable mobility and flexible earning opportunities.India’s ride-hailing market is shifting from premium to utility, opening up scope for players like Rapido. “Incremental journeys are no longer being driven by premium cab formats or metro-heavy demand. Instead, the expansion engine now sits firmly in autos and two-wheelers, especially in non-metro markets,” market research firm RedSeer said in a report. Rapido has also forayed into the food delivery space with its brand Only which is currently operational only in Bengaluru.Rapido valued at $3 billion with $240 million in fresh funding & more related News Here
The total investment is one of the largest funding rounds raised by a startup in recent times in a market where big capital infusions are rare except for a few deals like quick commerce player Zepto, which last raised $450 million in pre-IPO funding in October 2025, is on a multi-billion dollar funding spree since 2024 and recently saw AI startup Neysa raise funds from Blackstone in a combination of equity and debt. The combination saw the company lead a $1.2 billion investment into the firm. financing. Rapido has raised a total of $700 million in primary funding since its founding in 2015. The Bengaluru-based startup became a unicorn in July 2024 after securing $120 million funding from Westbridge Capital at a valuation of $1 billion. The announcement comes amid Uber CEO Dara Khosrowshahi’s visit to India, which he once said was one of the toughest markets. Rapido has been rapidly gaining market share and is understood to have overtaken Uber and Ola in terms of monthly active users between January and February this year. In a statement on Friday, Rapido said it will use the funds to expand into new markets and broaden its footprint in existing markets, in addition to growing its network of drivers, investing in technology and people. “This investment comes at a time when demand is accelerating in Tier 2+ markets, while Rapido is deepening its mobility offering in Tier 1 cities,” the company said, adding that the company has scope to access affordable mobility and flexible earning opportunities.India’s ride-hailing market is shifting from premium to utility, opening up scope for players like Rapido. “Incremental journeys are no longer being driven by premium cab formats or metro-heavy demand. Instead, the expansion engine now sits firmly in autos and two-wheelers, especially in non-metro markets,” market research firm RedSeer said in a report. Rapido has also forayed into the food delivery space with its brand Only which is currently operational only in Bengaluru.
