Rapido To Raise $50Mn In Next Round Of Investment

Rapido To Raise $50Mn In Next Round Of Investment

SUMMARY

The new round of funding will be led by Westbridge Capital and ShunWei Capital

The startup said to be valued $200 Mn after the round of investment

Existing investor Nexus Venture Partners will also be participating in the round, the sources said.

Bike taxi startup Rapido is reportedly talking for funding of a close to $50 Mn led by domestic firm Westbridge Capital and China’s ShunWei Capital, said two sources aware of the matter to Livemint.

Existing investor Nexus Venture Partners will also be participating in the round, the sources said. The startup is said to be valued at $200 Mn after the investment round. US’s Skycatchr, AdvantEdge and Astarc Ventures, and Hong Kong-based Integrated Capital are Rapido’s other investors. None of the investors has reportedly confirmed the reports yet.

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