Rapido is a bike taxi aggregator and logistics service provider. It allows users to book a bike ride through a mobile application while traveling solo. The application offers a variety of features, including door-to-door pick-up and drop-off, live tracking of rides, cashless payments, and more. It was founded in 2015 and is based in Madhapur, India.
Research containing Rapido
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CB Insights Intelligence Analysts have mentioned Rapido in 1 CB Insights research brief, most recently on Apr 19, 2022.
Expert Collections containing Rapido
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Rapido is included in 2 Expert Collections, including Smart Cities.
Companies developing solutions to streamline the way people move themselves. Includes companies providing on-demand access to passenger vehicles and micromobility solutions as well as companies integrating multiple modes of transport, including public transit, into one service.
Latest Rapido News
Dec 7, 2023
Rapido Launches Cab Hiring Services: Directly Challenges The Dominance Of Uber, Ola In App-Based Cab Domain Rapido Launches Cab Hiring Services: Directly Challenges The Dominance Of Uber, Ola In App-Based Cab Domain Dec 07, 2023 Rapido, a prominent player in the bike taxi and auto-rickshaw transportation sector, has officially entered the cab aggregation market with the launch of “Rapido Cabs.” This strategic move places Rapido in direct competition with industry giants like Ola and Uber, signaling the company’s expansion into a broader spectrum of transportation services. Rapido To Introduce Cab Service Like Ola Uber The announcement follows a successful pilot test of the cab service conducted by Rapido in Hyderabad about a month ago, where the company reported a positive start to its new venture. With this expansion, Rapido aims to tap into the growing market for online taxi services in India, which was valued at Rs 30.72 billion in FY 2020 and is projected to witness substantial growth in the coming years. The ride-hailing space in India has been historically dominated by Ola and Uber, both of which have become synonymous with cab services in the country. Despite not having the early-mover advantage, Rapido plans to leverage its existing customer base, which spans over 100 cities and boasts nearly 10 million customers with 100 million rides completed to date. Rapido Cabs has kicked off its operations with an impressive fleet of 100,000 vehicles, positioning itself as a significant player in the cab aggregation space. The company aims to address some of the challenges faced by drivers on other platforms by introducing an innovative payment model. Rapido Cabs’ Financial Performance Unlike the commission-based system employed by Ola and Uber, Rapido Cabs adopts a Software as a Service (SaaS) model. Under this approach, drivers are required to pay a dynamic subscription fee based on their earnings through the Rapido platform. The move into cab aggregation aligns with Rapido’s broader strategy to diversify its offerings and enhance its position in the competitive transportation sector. Rapido’s commitment to providing a superior travel experience, coupled with its focus on affordability, availability, and safety, positions the company to potentially disrupt the market. While Rapido has not yet disclosed its financial performance for FY23, the FY22 numbers reveal the company’s growth challenges. Despite a commendable 91.5% increase in revenue from operations to Rs 144.8 crore during FY22, Rapido’s losses surged by 2.6 times to Rs 439 crore. The company’s strategic expansion into the cab aggregation market is seen as a crucial step in navigating the competitive landscape and meeting the evolving needs of its diverse customer base. Additionally, there are reports suggesting that Rapido is exploring the possibility of adding bus ticketing services to its platform in partnership with Zingbus, further diversifying its range of offerings and solidifying its presence in the broader mobility ecosystem.
Rapido Frequently Asked Questions (FAQ)
When was Rapido founded?
Rapido was founded in 2015.
Where is Rapido's headquarters?
Rapido's headquarters is located at 3rd Floor, Sai Prithvi Arcade, Madhapur.
What is Rapido's latest funding round?
Rapido's latest funding round is Series D.
How much did Rapido raise?
Rapido raised a total of $308.77M.
Who are the investors of Rapido?
Investors of Rapido include Shell Ventures, Westbridge Capital, Swiggy, TVS Motor Company , Nexus Ventures and 28 more.
Who are Rapido's competitors?
Competitors of Rapido include Tembici and 7 more.
Compare Rapido to Competitors
Bikxie offers last-mile connectivity to commuters. The company aims to ease the daily commute of college students and office goers by operating bike taxis.
Bounce Infinity offers a motorbike-sharing platform. The company allows its users to pick up and drop off the bike anywhere they need. It also operates WickedRide, a motorcycle renting service. The company was formerly known as Metro Bikes. It was founded in 2014 and is based in Gurgaon, India.
ONN Bikes operates as a rental service provider for bikes. It provides two-wheelers on a rental basis to companies and individuals. It was founded in 2015 and is based in Mumbai, India.
MaaS Asia is a company focused on smart mobility solutions in the transportation industry. It offers shared mobility services such as bicycles, electric bicycles, electric scooters, and parking lots. The company primarily serves the urban transportation sector. It was founded in 2017 and is based in Seoul, South Korea.
Tilt offers a shared mobility platform. The platform provides bike-sharing solutions for college campuses, companies, and more. It was founded in 2016 and is based in Bengaluru, India.
Yulu develops a technology-driven mobility platform enabling integrated urban mobility across public and private modes of transport. It utilizes micro-mobility vehicles (MMVs) through a mobile application for first and last-mile connectivity. Its service offers bicycles with general packet radio service (GPRS), a global positioning system (GPS), and bluetooth technology helping users to rent and return bikes. Its products include Miracle GR, Miracle CT, DeX NV, and more. The company was founded in 2017 and is based in Bengaluru, India.