Rapido has raised $200 million in a funding round led by WestBridge Capital, boosting its valuation to $1.1 billion.
The funds will expand its new four-wheeler taxi service, aiming to rival Ola and Uber. Nexus Venture Partners, Think Investments, and Invus Opportunities also invested. The company is seeing significant growth, with a daily average of 2.3-2.5 million orders, and aims to become a major player in the four-wheeler market.