Urban mobility start-up Rapido has raised ₹125 crore (approximately $15 million) from Nexus Venture Partners, as part of a larger funding round that had pegged the company’s valuation at $1.1 billion. The development was disclosed in a recent filing with the Registrar of Companies (RoC).
The fresh capital infusion comes as Rapido gears up to enter the food delivery segment, with a pilot launch scheduled for this month. The company is expected to offer more competitive commission rates to restaurants — ranging from 8 per cent to 15 per cent, in contrast to Zomato and Swiggy’s 16–30 per cent.
This investment follows Rapido’s $200-million funding round led by WestBridge Capital last year, and a subsequent $30-million infusion from Prosus, the Dutch investor that also backs Swiggy.
In FY25, Rapido’s gross order value (GOV) more than doubled to $1.25 billion, driven by growth across its mobility services. Initially known for its bike-taxi offering, Rapido has since diversified into three- and four-wheeler ride-hailing, positioning itself as a challenger to incumbents like Ola and Uber.
Currently, Rapido is fulfilling between 3 and 3.5 million daily orders across its ride-hailing and hyperlocal logistics verticals, gaining ground in India’s competitive mobility space.
Financially, the company reported a 46 per cent year-on-year increase in operating revenue to ₹648 crore in FY24, supported by expansion into new service lines and higher customer demand. It also reduced its net loss by 45 per cent, bringing it down to ₹371 crore from ₹674 crore in FY23.
Published on June 9, 2025
