Rapido raises $180 million in Series D round led by Swiggy

Rapido, a bike taxi startup, has secured $180 million in a Series D round headed by Swiggy and supported by TVS Motor Company and current investors Westbridge, Shell Ventures, and  Nexus Ventures. 

It comes at a time when Swiggy’s rival Zomato announces 10-minute food deliveries.

Commenting on the funding, Rapido said:

“Swiggy’s participation in this round will build on the synergies between the two companies. With a common mission to deliver superior customer experience through higher fleet availability, it will also provide additional earnings for both Siggy’s delivery executives and  Rapido’s captains.”

Rapido intends to use the cash to improve its technology, amplify and develop its teams across varied sets of competencies, and boost total supply in metros, Tier 1, 2, and 3 cities.