Business News | Rapido Raises $180 Million in Funding Round Led by Swiggy
Get latest articles and stories on Business at LatestLY. Bike taxi startup Rapido has raised $180 million in its latest Series D round of funding led by Swiggy. The company's valuation after the new round of fundraising has surged to $830 million.
Bengaluru (Karnataka) [India], April 15 (ANI): Bike taxi startup Rapido has raised $180 million in its latest Series D round of funding led by Swiggy. The company's valuation after the new round of fundraising has surged to $830 million.
Siwggy is a new investor in Rapido. The firms that have invested in the new round of funding include TVS Motor Company, along with existing investors, Westbridge, Shell Ventures, and Nexus Ventures, apart from Swiggy, which led the fundraising.
Also Read | Sunken Russian Cruiser, Moskva Could Have Nuclear Warheads, Says Report.
Rapido said in a statement that the new funds would be leveraged to bolster the company's technology and strengthen its teams across diverse sets of capabilities.
"This will fortify Rapido's presence to provide a convenient, safe, accessible, and affordable alternative mode of daily commuting," Rapido said.
Rapido said it will be "investing these funds in all its three categories, viz. bike-taxi, auto and delivery, to enhance its captain earnings and improve customer experience in 100+ cities the company operates in." (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)