In yet another milestone for India’s burgeoning mobility sector, Rapido is poised to raise ₹125 crore (~$15 million) from Nexus Ventures as part of its ongoing Series E round, regulatory filings reveal. The ride-hailing upstart, known for pioneering the bike-taxi segment in India, has issued 23,872 Series E preference shares at ₹52,467 each to formalize the capital infusion.
But this is just the latest chapter in what’s shaping up to be a breakout year for the Bengaluru-headquartered firm. With this round, Rapido’s Series E haul climbs toward a massive $200 million—bringing the company’s valuation tantalizingly close to the coveted unicorn mark at $1.1 billion. Earlier in the round, global investor Prosus pumped in ₹250 crore, signaling strong institutional confidence in Rapido’s vision.
And it’s not just about rides anymore.
In a bold pivot, Rapido is now steering into the high-stakes food delivery space—a sector long dominated by giants like Swiggy and Zomato. According to sources cited in a Reuters report, the company plans to launch a platform with a disruptive fixed-fee model for restaurants, diverging from the commission-heavy structures that currently prevail. Insiders suggest this move could redefine how restaurants partner with delivery platforms.
Operationally, Rapido is firing on all cylinders. On May 24, 2025, the platform claimed a record-breaking 4 million rides in a single day—a number that reflects both scale and stickiness. On average, the company now facilitates 3.5 million rides daily across metros and emerging urban hubs.
Its financial story adds another layer of optimism. For FY24, Rapido posted ₹648 crore in revenue—a 46.3% jump year-over-year. Even more impressively, the company slashed its losses by 45%, down to ₹371 crore, signaling a clear march toward sustainability.
From its early days navigating regulatory gray areas to now challenging deep-pocketed incumbents across mobility and food, Rapido’s trajectory is a testament to relentless innovation and grit. As it inches closer to unicorn status, the coming months may well define the next phase of this homegrown disruptor’s journey.
