Mobility startup Rapido is set to raise Rs 125 crore (approximately $15 million) from Nexus Ventures as part of its ongoing Series E funding round, according to regulatory filings accessed via the Registrar of Companies (RoC).
As per the filing, the company’s board has approved a special resolution to issue 23,872 Series E preference shares at a price of Rs 52,467 per share, aggregating to the Rs 125 crore investment.
The investment follows a Rs 250 crore infusion from Prosus, also part of the Series E round, bringing the total capital raised so far in this round to Rs 375 crore. Rapido is targeting a total raise of $200 million in this round, which is expected to value the company at around $1.1 billion, signaling its entry into the unicorn club.
The fresh funding comes at a strategic time as Rapido gears up to enter the food delivery space with a new platform that will charge restaurants a fixed delivery fee per order—a move aimed at challenging incumbents Zomato and Swiggy, according to a report by Reuters.
On the operational front, Rapido recently announced it had completed 4 million rides in a single day on May 24, 2025, with a current daily average of 3.5 million rides. The company also reported strong financial performance for FY24, recording Rs 648 crore in revenue, a 46.3% year-on-year increase, while reducing its net losses by 45% to Rs 371 crore.
With a growing user base, strong investor backing, and expansion into adjacent services, Rapido is positioning itself as a formidable player in India’s evolving mobility and delivery ecosystem.
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