– Rapido said that the expansion plan will be gradually rolled out in multiple phases, starting February
In the initial phases, it will roll out services in Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan
The development comes months after Rapido entered the unicorn club after raising $200 Mn in its Series E funding round
Flush with capital, mobility giant Rapido
has announced plans to expand its footprint to 500 cities across the country from 120 currently.
In a statement, the startup said that the expansion plan will be gradually rolled out in multiple phases, starting February, and will look to cater to the diverse transportation needs of its users.
Initially, the startup will target states such as Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan for the roll out. Thereafter, it will extend its services to states such as Punjab, Haryana, Uttar Pradesh, Uttarakhand, among others.
The announcement was made on the sidelines of the Bharat Mobility Expo 2025. However, there is no clarity on the timeline for executing the expansion plans.
“… With over 1.3 Cr captains (riders) earning over INR 15,000 Cr on the platform, our expansion to 500 cities is a testament to our commitment to empowering individuals and building a more connected India…,” said Rapido cofounder Pavan Guntupalli.
The expansion plan comes six months after Rapido entered the unicorn club after raising $200 Mn in its Series E funding round, led by existing investor WestBridge Capital, which catapulted the ride-hailing startup’s valuation to $1.1 Bn. At the time, Rapido said that the investment would support the expansion of its operations across India.
Founded in 2015 by Guntupalli, Rishikesh SR and Aravind Sanka, Rapido primarily operates in the bike taxi and auto transportation segments. It forayed into the cab services space in December 2023 and introduced a subscription model. In addition, it also offers peer-to-peer delivery services via Rapido Local.
The startup claims to have so far facilitated over 200 Cr rides in 120 cities and witness 3.6 Mn rides daily.
Rapido’s operating revenue rose 46% year-on-year (YoY) to INR 648 Cr in the financial year 2023-24 (FY24), while net loss declined 45% YoY to INR 371 Cr.
The startup competes with the likes of Uber, Ola, as well as new players such as Google-backed Namma Yatri.
