- Rapido is valued at around $800 million in the current round
- Swiggy invested around $124 million in the current round
- Round also saw participation from existing investors, West-bridge, Shell Ventures gido, and Nexus Ventures
- Swiggy's investment to leverage synergies between the two companies
- Also unlock more opportunities for delivery executives and captains across both fleets
With a common mission to deliver superior customer experience through higher fleet availability, the funding will also provide additional earnings for both Swiggy's delivery executives and Rapido's captains, the start-up said in a statement. Rapido was valued at around $800 million, according to regulatory filings in the Registrar of Companies. Swiggy invested around $124 million in the current round, the documents showed.
The round also saw investment from TVS Motor Company, along with existing investors West-bridge, Shell Ventures, and Nexus Ventures.
This story is from the April 16, 2022 edition of Financial Express Mumbai.
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This story is from the April 16, 2022 edition of Financial Express Mumbai.
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