Rapido Raises ₹125 Cr to Fuel Food Delivery Expansion
Rapido has secured ₹125 crore in a new funding round from Nexus Venture Partners, as per filings with the Registrar of Companies. The investment is part of a broader round that reportedly values the company at $1.1 billion.
The fresh capital will support Rapido’s entry into the food delivery sector, with a pilot service set to launch in Bengaluru this month. To compete with giants like Zomato and Swiggy, Rapido is offering restaurants commission rates of 8% to 15%, lower than the 16–30% charged by incumbents.
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This move diversifies Rapido’s portfolio, building on its evolution from a bike taxi service to a comprehensive mobility platform that includes auto and car rides. The company also aims to expand its operations to 500 additional cities, intensifying competition with rivals like Ola and Uber.
Rapido’s financial performance underscores its growth. In FY24, operating revenue grew 46% year-on-year to ₹648 crore, while net losses dropped 45% to ₹371 crore from ₹674 crore in FY23.
The latest funding follows a $200 million round led by WestBridge Capital and a $30 million investment from Prosus, a Swiggy backer. Rapido’s gross order value (GOV) for FY25 doubled to $1.25 billion, driven by increased demand for its mobility services.
With its food delivery venture, Rapido is positioned to shake up another high-potential market.
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