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Rapido secures $240 million at $3 billion valuation as Flipkart pushes IPO to 2028
Business
Published on 15 May 2026
Flipkart pauses a massive IPO push to chase EBITDA
On 15 May 2026, India’s startup scene saw fresh capital across mobility, consumer brands, and healthtech. Rapido raised $240 million in a primary round led by Prosus, valuing the ride-hailing firm at $3 billion, as part of a larger $730 million transaction. Consumer toy brand Legend of Toys bagged ₹21 crore in a pre-Series A. D2C sweetener brand The Sweet Change raised ₹70 lakh. Meanwhile, Flipkart deferred its IPO to 2028, and Innovaccer cut 340 jobs during an AI shift.
- Rapido raised $240 million led by Prosus at a $3 billion post-money valuation
- The round sits within a larger $730 million primary and secondary deal
- Legend of Toys secured ₹21 crore in a pre-Series A with multiple investor participants
- Flipkart deferred its IPO to at least 2028 to prioritize EBITDA breakeven in FY27
- Innovaccer laid off 340 employees as it transitions to an AI-native operating model
Read the full story at Startup Talky
This summarization was done by Beige for a story published on 
Startup Talky