MUMBAI, May 15 : Mobility platform Rapido on Friday announced that it has raised USD 240 million in a funding round led by Dutch investment firm Prosus to expand its operations, strengthen technology, and tap new markets.
The round also saw participation from WestBridge Capital, Accel, and other existing investors. The company, officially known as Roppen Transportation Services Pvt Ltd, said that with this latest infusion, it has raised a total of USD 730 million through primary and secondary funding.
Following the round, Rapido is now valued at around USD 3 billion on a post-money basis.
Co-founder Aravind Sanka said the investment will help the company expand deeper into markets where demand exists but supply remains fragmented, while improving earnings opportunities for its driver-partner network.
Founded in 2015, Rapido currently operates across more than 400 cities in India. The company plans to use the fresh capital to expand demand by building new markets, strengthen its captain network, and invest heavily in technology and talent.
Rapido said it will focus on improving first- and last-mile connectivity, increasing platform efficiency, and scaling operations in both metro and tier-2 and tier-3 cities, where demand for affordable mobility is rising rapidly.
The company also highlighted its focus on inclusivity, including initiatives to onboard more women drivers and improve safety and accessibility for women riders as part of its next phase of growth.
