Rapido to raise Rs 125 Cr from Nexus Ventures ahead of enter into diversify product offerings

Urban mobility start-up rapido is set to raise Rs 125 crore from US-based venture capital firm Nexus Ventures as part of its Series E round as it looks to chart its entry into the food delivery space and setting up of a fintech unit.

According to a filing with the Registrar of Companies (RoC), The company’s board has approved a plan to raise Rs 125.2 crore by issuing 23,872 Series E preference shares. 

Each share has a face value of Rs 10 and will be sold at Rs 52,467, which includes a premium of Rs 52,457 per share.

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The ride-hailing app is raising $200 million in a Series E funding round, which values the company at $1.1 billion. This follows a Rs 250 crore investment from Prosus, also part of the same Series E round.

The funding comes at a key moment as the company looks to expand beyond its core ride-hailing business. It’s now preparing to enter the food delivery market, which Zomato and Swiggy currently dominate.

Rapido recently reported completing 4 million rides in a single day on May 24, 2025. Currently, it averages 3.5 million daily rides.

In FY24, the company saw a 46.3% year-on-year revenue growth, reaching Rs 648 crore. It also managed to cut its losses by 45%, bringing them down to Rs 371 crore.

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