Xiaomi in talks to back bike taxi app Rapido
Rapido was founded by Aravind Sanka, Rishikesh S R and Pavan Guntupalli in 2015 and also counts Hero MotoCorp MD Pawan Munjal among its investors.
Rapido enters fast lane with ₹ 390 crore
Firm’s post-money valuation soars to ₹1,000 cr after latest round led by Westbridge Capital.
Rapido in final stages of closing $50m round
WestBridge Capital, which has formerly focused on making private investments in public equity (P...
Non-VC investors rush in to script a new funding story
NEW FACES: A diverse set of investors, ranging from PE cos to family offices, enter the game.
Bike sharing startup Vogo in talks with Goldman Sachs for $50 million; Bounce gets commitment of $75 million
While Vogo is in talks to raise $50m from Goldman Sachs, rival Bounce is eyeing $75 million.
Rapido plans to launch “power pass” for regular commuters
“We are planning to make the app more powerful with new features. We will continue to be focused on making commuters’ daily travel faster and cheaper,” said Aravind Sanka, co-founder, Rapido.
Mobility startups attract big bucks
Another area seeing investor action is car & bike pooling, where Quick Ride is learned to have got around $15 million from Naspers.
Transport department halts Ola bike taxi
The department will seize, penalise such bikes; says it was not informed before the services were introduced.
Transport dept gets requests from operators to make bike taxis legal
Officials in the department said they received a representation from app-based cab aggregator Uber on bike taxis.
Dunzo set for a ride, UberMoto watch out
The app-based runner service plans to launch its bike service by the end of this month in Gurugram. The company currently has 400 weekly active delivery men in Bengaluru.
Chinese VCs bring what money can’t buy for startups
Chinese investors have armed themselves with a suite of services for their portfolio companies in India.
Myntra bets on AI, augmented reality to enhance user connect
The Flipkart-owned company has already tested this internally with its two in-house brands Moda Rapido and Here and Now which are powered by AI.
Ola and Uber look beyond cab hailing to drive growth
Both mobility platforms are expected to bank on bike taxis and rentals to shore up ride numbers.
Pawan Munjal, Rajan Anandan invest in bike taxi operator Rapido
The company has raised pre-series A round of funding led by Munjal, AdvantEdge Partners, Astarc Ventures and Tesellate Ventures, among others, Rapido said.
Most bike taxi ventures shut operations
The poorly funded local players have not been able to match the heavy subsidies to customers and drivers by players like Uber and Ola, which makes them unattractive to both segments.
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