Ride-hailing platform Rapido, operated by Roppen Transportation Services Private Limited, on Friday announced that it has raised $240 million in a fresh funding round led by Prosus.
The round also saw participation from WestBridge Capital, Accel and other investors, as part of a broader $730-million primary and secondary financing transaction, the company said in a statement.
Following the transaction, Rapido has been valued at $3 billion on a post-money basis.
The company said the fresh capital will be used to expand into new markets and strengthen its presence in existing ones while growing its captain network and increasing earning opportunities on the platform.
The investment will also support technology development and talent expansion, with a focus on improving platform efficiency, strengthening first- and last-mile connectivity, and enhancing the overall user experience across high-growth markets.
“This investment is about accelerating our ability to unlock both these structurally. We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings. We will sharpen our focus on strengthening supply, building technologies, and expanding our multi-modal footprint, with far greater speed and intent,” said Aravind Sanka, co-founder, Rapido.
Founded in 2015, Rapido operates in more than 400 cities across India and offers services including bike taxis, auto-rickshaws, cab rides, parcel deliveries, flight bookings, and food delivery through its technology-enabled mobility platform.
“Mobility is emerging as a foundational layer of India’s digital economy, with the potential to unlock significant economic participation. Our investment reflects a strong conviction in Rapido’s ability to scale sustainably while addressing real, large-scale challenges around access and livelihoods.,” said Ashutosh Sharma, Head of India Ecosystem at Prosus.
