Rapido enters unicorn club with $120 million round led by WestBridge

Quick Summary:

The steep growth in scale also caused a 54 per cent spike in losses, which stood at Rs 675 crore in FY23, according to Entrackr.

Last year in December, Rapido, known for its budget-friendly bike-taxi services, announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola.

In April 2022, Rapido had raised $180 million in its latest Series D round.

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Category: BusinessFinance

Markets: India

Topics: Bike Taxi Startups Swiggy

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-07-29 @ 22:02:05 (10 hours ago)

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News Source URL: business-standard.com

Language: English

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