Rapido, an Indian ride-hailing startup, has achieved unicorn status by raising $120 million, boosting its valuation to $1 billion. The investment was led by existing backer WestBridge Capital.
Founded in 2015 by Pavan Guntupalli, Rishikesh SR, and Aravind Sanka, Rapido becomes the third Indian startup to reach this milestone in 2024, following Perfios and Krutrim. This significant achievement highlights Rapido's growth and the increasing investor interest in India's tech sector.