Rapido raises $10 M funding led by Hong Kong based Integrated Capital
Summary
The Bengaluru-based bike taxi sharing app Rapido has raised fresh funding of $10 million led by Hong Kong-based investment firm Integrated Capital. The platform had raised funding in 2016, led by led by Pawan Munjal, Chairman of Hero MotoCorp Ltd; AdvantEdge Partners; Astarc Ventures; Tessellate Ventures Ventures; Anupam Mittal, Founder and CEO of People group; Harish Bahl, Founder of Smile Group; Ankit Nagori, Ex-CBO of Flipkart; Rajan Anandan, MD Google India and South East Asia; and Kunal Khattar, serial entrepreneur and Co-founder of Carnation Auto. Founded in 2015 by Rishikesh SR, Pavan Guntupalli and Aravind Sanka, Rapido is targeted at crores of commuters who seek affordable and swift transport options. In the three years since its launch, Rapido has recorded two million app downloads on iOS and Android and is operational in 16 cities from metros (Bengaluru, Gurugram, Hyderabad, etc. Besides offering doorstep pickup and drop services, Rapido cuts down on daily travel expenses, saves energy, and helps reduce the carbon footprint.