Rapido Raises $200M Series E, Plans 100,000 EV Bike Deployment for B2B Last-Mile Logistics
Rapido, India's largest bike taxi platform, has closed a $200 million funding round and announced a pivot toward electric two-wheelers for B2B last-mile logistics.
Rapido has announced a $200 million Series E funding round led by WestBridge Capital.
Strategic Pivot
The funding will primarily fuel Rapido's expansion into B2B last-mile delivery using electric two-wheelers. The company plans to deploy 100,000 EV bikes in partnership with Ola Electric and Ather Energy over the next 18 months.
EV Transition
Rapido currently operates a fleet of approximately 3.5 million bikes across 120 cities, with only 8% being electric. The company aims to bring EV penetration to 35% by the end of 2027.
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