Bike taxi company Rapido has raised $180 million in Series D funding.
The investment in the Bengalaru, India-based company was led by food delivery platform Swiggy with TVS Motor Company and existing investors Westbridge, Shell Ventures and Nexus Ventures also involved.
Confirming the funding on LinkedIn, Aravind Sanka, co-founder of Rapido, says the company’s ultimate goal is to provide “various modes of transport” to 100 million customers via its platform.
He says that the company, which was founded in 2015, has carried out more than 300 million taxi orders and handles 20 million across more than 90 cities every month.
The funds will go into all three of Rapido's business units - bike taxi, cars and delivery and be used to further develop its technology and bring in new hires.
Sanka says: "We look forward to learning from Swiggy's experience to scale up throughout the country and enhance our captains' (drivers)/customers' experience. We hope to accelerate our pace of becoming a household name as we increase our geographies and services, on the backbone of our robust, global-standard technology."
Rapido raised $52 million in august last year and its total funding now stands at around $310 million with this latest funding.