Rapido enters unicorn club, joins the league of Ola; list of companies that became unicorns this year
Rapido has received a $120 million in Series E round led by PE firm WestBridge Capital, according to the regulatory filings made by the company sourced from market intelligence platform Tofler.
Rapido, a ride-hailing platform backed by food-tech firm Swiggy, has raised fresh funding.
How much has Rapido raised in the latest round?
Rapido has received a $120 million in Series E round led by PE firm WestBridge Capital, according to the regulatory filings made by the company sourced from market intelligence platform Tofler.
Rapido enters the unicorn club
With this, the startup has entered into the unicorn club.
How will Rapido use the funding?
The startup plans to use the money for its expansion plans.
What is a unicorn?
A startup whose valuation exceeds a valuation of over $1 billion is called unicorn.
Other startups that become Unicorns this year
Apart from Rapido, there are two more companies that entered unicorn club this year including Bhavish Aggarwal's AI venture Krutrim and B2B SaaS fintech firm Perfios.
Who are Rapido's competitors?
Rapido competes with the likes of Ola, Uber and Namma Yatri.
When was Rapido started?
Rapido began operations in 2015 by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR. Rapido.
How much money did Rapido raise in 2022?
Rapido had raised $180 million in April 2022. This was the company's Series D round led by food-tech firm Swiggy.