Rapido plans to raise $100M funding in a round led by WestBridge Capital to expand its services and increase its valuation to $900M

Apr 05, 2024•over 1 year ago

Amount Raised

$100 Million

BengaluruTransportation

Investors

Shell VenturesNexus VenturesTvs MotorsSwiggyWest Bridge Capital

Description

Rapido is seeking to raise $100M in funding from WestBridge Capital and other investors to expand its services and increase its valuation to $900M. The company has received commitments of around $70M and is approaching Indian family offices for additional support.

Company Information

Company

Rapido

Location

Bengaluru, Karnataka, India

About

The rapid scaling of quick commerce and hyperlocal delivery has further driven Rapido’s expansion into on-demand logistics with Rapido Local and Rapido Store, the company said in a prepared statement. The company Rapido said it has recorded a strong recovery of 85% as compared to pre-Covid months.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

Tech investment trends