Rapido, the ride-hailing unicorn, has raised $240 million (₹2,302 crore) at a $3 billion post-money valuation, led by existing backer Prosus with participation from WestBridge Capital, Accel, and other undisclosed investors. The company says this is part of a larger $730 million round combining primary and secondary transactions. Rapido plans to expand into new markets, deepen existing operations, grow its driver base, and invest in technology and hiring to build denser, more reliable supply.
Ola Consumer, Ola Group’s ride-hailing arm, more than doubled its net loss to ₹662.4 crore in FY25 as operating revenue dropped 41.8% to ₹1,170.9 crore. Losses accumulated to ₹21,212.6 crore alongside debt of over ₹586 crore, though the firm says liquidity is sufficient. Costs fell overall, but marketing surged 117.9% and an IPO process is underway.
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