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Nexus Venture Partners will invest Rs 125 crore (around $15 million) in Rapido as a part of a larger financing round last year that valued it at $1.1 billion, the urban mobility platform said in a filing with the Registrar of Companies (RoC).
The fund infusion comes ahead of Rapido’s foray into food delivery, for which it plans to launch a pilot this month. ET has reported earlier that Rapido is looking to challenge the dominance of Eternal’s Zomato and Swiggy in food delivery. The latter holds a 12% stake in Rapido.
According to agreed terms with…
