Bike taxi platform Rapido has raised $52 million in its latest round of funding. The startup's new investors are Shell Ventures; Yamaha; Kunal Shah (Founder, CRED); Amarjit Singh Batra (CEO, Spotify India); and Positive Moves Consulting.
Existing investors, including Pawan Munjal of Hero Group, Westbridge, Nexus Venture, and Everblue Management, also participated in the funding.
The startup noted it would utilise the funds to invest in technology, people, and supply to further boost its growth in India and make affordable transportation a reality for the masses.
