INFOGRAPHIC: Top Asian Startup Funding — Week 36

Kelechi Edeh -
  • Rapido Raises $200 Million in Series E at $1.1 Billion Valuation, Aims to Expand Ride-Hailing Services
  • Blue Tokai Raises $35 Million in Series C Round to Expand in Tier I and Tier II Cities
  • Solarvest Secures $25.87 Million for Solar Farm Development in Pahang
  • ThinkCyte Secures an Additional $15M in the Extension Round Funding
  • Bateriku.com Secures $7.4 Million in Series B Round to Advance Roadside Assistance in Southeast Asia

Rapido Raises $200 Million in Series E at $1.1 Billion Valuation

Bengaluru-based ride-hailing startup Rapido has raised $200 million in a Series E funding round, led by WestBridge Capital with participation from Think Investments, Nexus Venture Partners, and Invus Group.

WestBridge contributed $120 million, with the remaining amount coming from the other investors. This funding brings Rapido’s valuation to $1.1 billion.

Founded in 2015, Rapido offers ride-hailing services across India, including bike taxis, autorickshaws, and cabs. The company has become a major player in the Indian market, processing 1.65 million rides per day, making it the second-largest ride-hailing platform in India after Uber.

Rapido plans to use the new funds to expand its four-wheeler ride-hailing services, which it launched in December 2023. The company aims to strengthen its position in the competitive Indian market, particularly by enhancing its cab services to better compete with Ola and Uber.