Delhi-based investors and industry experts are closely watching Rapido, the Bengaluru-headquartered ride-hailing platform, as it finalises a $500-550 million (₹4,500-5,000 crore) funding round through a combination of primary and secondary deals. The move comes alongside Swiggy’s exit from its 11.8 per cent stake in Rapido, reflecting strategic shifts in India’s rapidly evolving mobility and quick commerce landscape.
The primary portion of the round is estimated at $300 million, with Dutch investor Prosus injecting $240-250 million, and WestBridge Capital contributing the remaining balance. The secondary component, involving Swiggy offloading its holding, values Rapido at $2.3 billion (₹20,300 crore), more than double its $1.1 billion valuation earlier this year. Officials note that the transaction strengthens Rapido’s financial base while providing Swiggy with a capital cushion to manage cash burn in its quick commerce vertical, Instamart. Industry experts highlight that Rapido maintains a dominant position in the two-wheeler ride-hailing segment, controlling nearly half of the market, while remaining second to Uber in the four-wheeler segment. The funding will support technology upgrades, operational expansion, and sustainable urban mobility solutions, aligning with broader goals for eco-friendly and equitable city transport.
The strategic exit by Swiggy also addresses a potential conflict of interest, as both firms operate in food delivery. Officials indicate that Swiggy’s sale, pending regulatory and shareholder approvals, provides ₹2,400 crore in liquidity, strengthening its balance sheet amid high expenditure in the ultra-fast delivery segment. Analysts say the move positions Swiggy to remain competitive against rivals such as Eternal’s Blinkit, which reported over ₹18,000 crore in cash reserves as of June 30. Financial disclosures show Rapido generated ₹648 crore in operating revenue for 2023-24, a 46 per cent increase from the previous year, while narrowing net losses by 45 per cent to ₹371 crore. Preliminary figures for 2024-25 indicate over 40 per cent growth, underscoring investor confidence in the platform’s scalable model.
Experts emphasise that the funding round illustrates a broader trend of consolidation in India’s mobility and quick commerce markets. Investors are prioritising sustainable growth and operational efficiency over aggressive market capture, while simultaneously supporting environmentally responsible urban transport solutions. Officials and market analysts expect the additional capital to accelerate Rapido’s expansion, improve service quality, and enhance rider safety measures. The development marks a significant moment in India’s ride-hailing industry, reinforcing investor trust in scalable, eco-conscious urban mobility platforms.
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