Uber pumps Rs 3,000 Cr in India to compete new leader Rapido

Uber has infused nearly Rs 3,000 crore (around $330 million) into its Indian subsidiary, Uber India Systems Pvt Ltd, amid intense competition in the ride-hailing market, as Rapido expanded its market share rapidly.

The board of Uber India allotted 14.4 million equity shares at an issue price of Rs 2,022.85 each to raise Rs 2,921 crore, according to its filing with the Registrar of Companies (RoC).

The parent entity of Uber India Systems Pvt Ltd, Uber B.V., invested the above-mentioned amount in two tranches. The first tranche of Rs 200 crore came in November, followed by Rs 2,721 crore in January this year.

This much-needed investment came at a time when Uber India Systems Pvt Ltd reported an 89% decline in net revenue from ride-hailing to Rs 88 crore in FY25 from Rs 807 crore in FY24. Interestingly, the sharp decline comes despite the ride-hailing biz's gross revenue (commissions from rides) remaining flat at Rs 2,604 crore during the year.

Meanwhile, rival Rapido crossed Rs 1,000 crore in income in FY25 and increased its market share rapidly. The company last raised Rs 125 crore in June 2025 from Nexus Venture Partners. Recently, Swiggy sold its stake in Rapido to Prosus and WestBridge Capital at over 2.5X return on its investment.

According to media reports, Uber India Systems Pvt Ltd commands around 45% of the four-wheeler ride-hailing market, followed by Ola with a 25–30% share. Rapido, which entered the cab segment in late 2023, has already captured more than 20% of the market. 

Overall, Rapido has emerged as the largest ride-hailing platform in India in terms of total number of rides, with a 50% market share, followed by Uber at 40%, according to Entrackr sources. The company has a clear lead in the bike and three-wheeler segments, with over 65% market share. Uber’s chief executive officer, Dara Khosrowshahi, also admitted that Rapido is the biggest competitor for the global ride-hailing giant.