In the fastest growing of India’s startup ecosystem, Rapido has zipped past a major milestone via entering the ₹1,000 crore club and officially becoming a unicorn. What began in 2015 as a simple bike-taxi startup has now grown into a national mobility giant, carving its place alongside big competitors like Ola and Uber.
The Bengaluru-based company recently raised ₹1,000 crore (approx. $120 million) in a Series E funding round led by WestBridge Capital, extended its valuation beyond $1 billion. And with that, Rapido joined the elite club of Indian unicorns, but with a twist, it did it on two wheels.
From Backseats to Boardrooms
Founded by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR,Rapido was created to effectively address a significant gap in Indian society. With traffic congestion and sky-rocket cab prices, Rapido’s two-wheeler solution was a Refreshing change- affordable, fast, and efficient.
Today, the company offers bike taxis, autos, and cabs across 120+ cities, and is growing rapidly.
The Numbers Tell the Story
- In FY24, Rapido’s revenue grew by 46%, reaching ₹648 crore.
- The company reduced its net losses by 45%, reflecting smart and efficient scaling.
- Over 200 crore rides have been completed on the platform to date.
- Rapido now handles 3.6 million daily rides.
- The platform has secured its place as one of India’s most trusted mobility services.
Upcoming Plan
Over its core services, Rapido is now planning to enter new markets. The company recently launched Rapido Delivery, and it’s set to enter EV financing,utilizing India’s growing Inclination towards sustainable transport solutions. Their goal is to expand into 500 cities and offer a hyper-local, tech-driven alternative to the current big players.
More Than Just a Startup
Rapido’s journey isn’t just about funding rounds and valuations, it’s a story of accessibility, empowerment, and homegrown innovation. It’s created livelihoods for lakhs of riders and redefined everyday shuttling for the masses.
As India rides into a future of electric mobility and tech-enabled travel, Rapido isn’t just along for the ride, it’s leading it.
Get ready or better yet, put on your helmet- the journey is just starting.
