Rapido To Raise INR 125 Cr From Nexus As It Gears Up For Food Delivery Launch

Ride-hailing company Rapido is raising Rs 125 crore (approximately $15 million) in a funding round led by its existing backer, Nexus Venture Partners. This fundraising is strategically timed as the company gears up to launch its own food delivery service, entering a market dominated by giants like Zomato and Swiggy. The fresh capital will be deployed to build the necessary technological infrastructure, onboard restaurant partners, and run marketing campaigns for the new service. Rapido plans to leverage its extensive network of bike-taxi riders to create a cost-effective and efficient delivery fleet. This move represents a significant diversification for Rapido, moving beyond mobility to tap into the lucrative hyperlocal delivery market. The success of this new venture will depend on the company's ability to differentiate itself and offer a compelling value proposition to both customers and restaurants in a highly competitive environment.