AgenciesBengaluru: Rapido, a bike taxi platform, has raised $52 million in its latest funding round that saw participation of new investors including Shell Ventures, Yamaha India, Cred founder Kunal Shah and Amarjit Singh Batra, chief executive officer of Spotify India and Positive Moves Consulting.
The round also saw the participation of existing investors Pawan Munjal of Hero Group, Westbridge, Nexus Venture Partners and Everblue Management.
The rapid scaling of quick commerce and hyperlocal delivery has further driven Rapido’s expansion into on-demand logistics with Rapido Local and Rapido Store, the company said in a prepared statement.
The company Rapido said it has recorded a strong recovery of 85% as compared to pre-Covid months. The company previously raised a total funding of $80 million from various investors including Westbridge AIF, Nexus Ventures, Sabre Investment, Skycatcher LLC, Bace Fund, Integrated Growth Capital, among others.
With its latest round of funding, Rapido will be making strategic investments in technology, people, and supply.
The round also saw the participation of existing investors Pawan Munjal of Hero Group, Westbridge, Nexus Venture Partners and Everblue Management.
The rapid scaling of quick commerce and hyperlocal delivery has further driven Rapido’s expansion into on-demand logistics with Rapido Local and Rapido Store, the company said in a prepared statement.
The company Rapido said it has recorded a strong recovery of 85% as compared to pre-Covid months. The company previously raised a total funding of $80 million from various investors including Westbridge AIF, Nexus Ventures, Sabre Investment, Skycatcher LLC, Bace Fund, Integrated Growth Capital, among others.
With its latest round of funding, Rapido will be making strategic investments in technology, people, and supply.
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