Rapido Eyes $600M Funding at $3B Valuation

Indian ride-hailing startup Rapido is reportedly in advanced discussions to raise $550 million to $600 million in a fresh funding round, as the company seeks to accelerate expansion in India’s competitive urban mobility market.

The new funding round is expected to be led by Dutch technology investor Prosus, with participation from global venture capital firm Accel Leaders Fund and existing backer WestBridge Capital. Accel’s India arm is also likely to participate in the transaction.

Sources familiar with the development said the deal could value Rapido at around $3 billion, marking a major jump in the company’s valuation and positioning it among India’s fastest-growing mobility startups.

Investment Structure and Stake Changes

The upcoming funding round is expected to include both primary and secondary transactions, meaning new capital will flow into the company while some existing shareholders may partially exit. Reports indicate that Prosus and Accel India have already acquired a stake previously held by Swiggy, which owned around 12% in Rapido.

If finalised, the funding would be one of the largest capital raises by an Indian consumer internet startup in the past year, signalling renewed investor interest in the mobility sector.

Rapido Expanding Beyond Bike Taxis

Founded in 2015 by Aravind Sanka, Pavan Guntupalli and Rishikesh SR, Rapido initially gained popularity through its bike taxi platform designed to offer affordable and faster last-mile travel in congested cities.

Over the years, the Bengaluru-based startup has expanded its offerings to include auto rickshaw and cab services, positioning itself as a strong challenger to ride-hailing giants like Uber and Ola.

The company is also diversifying its business model. Rapido recently introduced a food delivery platform called “Ownly”, which is currently expanding beyond pilot testing in Bengaluru. The fresh capital is expected to support scaling this vertical along with strengthening its mobility operations.

Mobility Market Heating Up

The potential funding comes at a time when India’s ride-hailing market is witnessing intense competition and consolidation. Investors are increasingly backing platforms that offer multiple services such as bike taxis, autos, cabs and delivery solutions on a single app.

For Rapido, the new investment could help expand into more cities, improve technology infrastructure and increase driver supply, allowing the company to compete more aggressively in India’s rapidly evolving mobility ecosystem.

If the deal closes as expected, Rapido’s latest fundraise could mark one of the biggest funding rounds in India’s mobility sector in recent months, reinforcing investor confidence in the country’s urban transport startups.