Rapido To Raise INR 125 Cr from Nexus Venture Partners to fuel its food delivery venture

Rapido, known for its bike and auto ride-hailing services across India, is rapidly expanding both its operations and ambitions. The company, which connects millions of daily commuters with affordable mobility options, is now setting its sights beyond transportation.

As part of its Series E funding round, Rapido is going to raise ₹125 crore (around $15 million) from Nexus Ventures. According to regulatory filings, the company will issue 23,872 Series E preference shares at a price of ₹52,467 each to secure the funding.

This investment is part of a larger $200 million Series E round that is expected to value Rapido at $1.1 billion. Earlier, Prosus had infused ₹250 crore into the same round.
Rapido is now entering the food delivery space, aiming to disrupt the current model dominated by Swiggy and Zomato. Unlike its competitors, Rapido plans to charge restaurants
a flat fee per order instead of commissions.

On the operational front, Rapido recently hit a major milestone: 4 million rides in a single day on May 24, 2025, with a steady daily average of 3.5 million rides. The company is also showing solid financial progress. In FY 2023–24, it reported a 46.3% year-on-year revenue growth, reaching ₹648 crore, while successfully reducing its losses by 45% to ₹371 crore.



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