Overview
- Rapido announced Friday a $240 million primary round at a $3 billion valuation as part of a larger $730 million primary‑plus‑secondary package.
- The round was led by Prosus with participation from existing backers WestBridge Capital and Accel, according to the company.
- Rapido said it will use the funds to expand in high‑growth and non‑metro markets, grow its driver network, and invest in technology that boosts earnings and platform efficiency.
- The company outlined inclusivity plans that aim to onboard more women riders and improve safety and accessibility across its services.
- Industry watchers say the raise intensifies competition with Uber and Ola in a price‑sensitive market and has already lifted weekly venture funding totals for Indian startups.