Equirus Leads $1 Million SRapido, a taxi service startup and unicorn, plans to raise $60 million from Prosuseed Round in Datazip

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Rapido plans to raise around $60 million in primary & secondary funding from Prosus, according to three sources

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This tranche is part of the ongoing $200 million Series E round

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In August, the company acquired $120 million in Series E capital from WestBridge Capital, with investment from SETU AIF and Konark

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"With Prosus's $60 million, Rapido will conclude its Series E round," a source said

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Rapido was valued at around $1.02 billion in the Series E round, which was fully backed by WestBridge, according to TheKredible projections

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Prosus is the largest stakeholder in Swiggy, a major food delivery and rapid commerce platform

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In November 2022, Swiggy led a $180 million investment round for Rapido, acquiring more than 12% interest

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Prosus' involvement in Rapido coincides with Rapido becoming the largest ride-hailing company (including bikes, automobiles, and cabs), surpassing Ola and Uber

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Rapido has not disclosed its FY24 data, although its operating revenue increased to Rs 443 crore in FY23

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