Rapido Achieves Unicorn Status with $120 Million

31 Jul 2024 CW Team

Rapido, an Indian bike taxi aggregator, has achieved unicorn status following a significant funding round that raised $120 million. This milestone marks a major achievement for the company and underscores its rapid growth and the increasing investor confidence in the bike taxi sector.

The funding round was led by prominent investors, including existing backers and new participants, reflecting strong market confidence in Rapido?s business model and expansion plans. The capital infusion is expected to accelerate Rapido?s growth trajectory, enhance its operational capabilities, and expand its service offerings across new and existing markets.

As a unicorn, Rapido joins an elite group of privately-held startups valued at over $1 billion. The company plans to utilize the new funds to bolster its technology infrastructure, improve user experience, and scale its operations to meet the growing demand for bike taxi services in India.

Rapido?s business model, which focuses on providing affordable and efficient transportation solutions, has resonated with a broad customer base. The company's innovative approach and strategic expansion have contributed to its impressive valuation and market presence.

The funding will also support Rapido?s efforts to enhance safety features, increase rider and driver incentives, and invest in marketing and brand-building activities. Additionally, the company aims to leverage this opportunity to explore potential partnerships and collaborations that could further drive its growth and market penetration.

With its new unicorn status, Rapido is well-positioned to continue its growth journey and solidify its position as a leader in the bike taxi industry, contributing to the transformation of urban mobility in India.

Infrastructure Urban

31 Jul 2026

SCLR Extension Nears Completion Linking BKC With Signal-Free Route

The Santacruz-Chembur Link Road (SCLR) extension towards Bandra-Kurla Complex (BKC) via the Mumbai University campus has entered its final stage, bringing motorists closer to a direct, signal-free connection between the Western Express Highway and the city’s commercial district. The elevated connector is being built as an arm from the SCLR alignment and will link the western suburbs with BKC without surface signals. The link is designed to reduce journey times for commuters travelling from the western suburbs to BKC and to improve access to eastern Mumbai. By carrying through traffic above s..

Raiganj MP Seeks Bengal Only Highway Link To Siliguri

Raiganj Member of Parliament Kartik Chandra Paul met Union Minister for Road Transport and Highways Nitin Gadkari in New Delhi to press for a new stretch of national highway in North Dinajpur district. He urged approval for a Bengal-to-Bengal link that would connect National Highways 12 and 27 to allow vehicles bound for Siliguri to avoid the current route through Kishanganj in neighbouring Bihar. He also submitted a proposed alignment of the new road to the ministry for consideration. At present vehicles from Raiganj travel along NH-12 and join NH-27 at Purnia More in Dalkhola, a route that p..

Airport Kilambakkam Metro Line To Be Extended To Chengalpattu

Chennai Metro Rail (CMRL) has invited tenders for two detailed project reports that would extend its rail network to Chengalpattu in the south and extend Corridor-5 to Wimco Nagar in the north as part of a second wave of expansion beyond the operator's corridors under construction. The move signals an acceleration of planning for suburban links and interchange nodes. The larger of the two studies covers a roughly 27km extension from the planned Kilambakkam metro station to Chengalpattu under Corridor-1, Phase I. CMRL floated the tender at an estimated cost of Rs 21.6 mn. The proposed line woul..