Indian Uber rival Rapido raises $240M at $3B valuation

Indian ride-hailing startup Rapido raised $240 million in fresh equity funding at a $3 billion valuation.

Prosus led the round, with participation from WestBridge Capital and Accel, as part of a broader $730 million financing package.

The deal underscores continued investor confidence in India’s mobility market despite fierce competition and profitability pressures.

The new capital will help Rapido expand its ride-hailing and multimodal transport business against Uber and local rivals.