Rapido to raise Rs 125 Cr from Nexus Ventures

Mobility firm Rapido is set to raise Rs 125 crore (around $15 million) from Nexus Ventures as part of its Series E round.

The board at Rapido has passed a special resolution to issue 23,872 Series E preference shares at an issue price of Rs 52,467 each to raise Rs 125 crore or $15 million, the company's regulatory filing accessed from the Registrar of Companies shows.

The ride-hailing application is set to secure $200 million in a Series E funding round, valuing the company at $1.1 billion. This investment comes after a Rs 250 crore infusion from Prosus, which was also part of the Series E round.

The funding coincides with Rapido’s planned entry into the food delivery market through a new platform that charges restaurants a fixed fee per order, according to a Reuters report. This move will position the company to compete with Swiggy and Zomato, owned by Eternal.

Rapido recently claimed to have completed 4 million rides in a single day on May 24, 2025. At present, the company averages 3.5 million rides per day.

Rapido recorded 46.3% year-on-year growth, with revenue standing at Rs 648 crore in the fiscal year ending March 2024. The company also reduced its losses by 45% to Rs 371 crore during the same period.