Nexus Venture Partners has invested 125 crore rupee (US$15 million) in Rapido, valuing the urban mobility platform at US$1.1 billion.

The investment was disclosed in a filing with the Registrar of Companies.

Rapido plans to launch a pilot food delivery service this month, with restaurant commission rates between 8-15%, lower than Zomato and Swiggy’s 16-30%.

Rapido recently expanded into four-wheeler ride-hailing, adding to its bike-taxi and hyperlocal logistics services.

In FY25, its gross order value (GOV) surpassed US$1.25 billion, with 3-3.5 million daily orders across vehicle types.

The company is also exploring insurance distribution for drivers and customers.

🔗 Source: The Economic Times

🧠 Food for thought

1️⃣ Multi-vertical expansion is critical for ride-hailing platforms to achieve unicorn status

Rapido’s evolution shows how ride-hailing companies must expand beyond their core services to sustain growth and valuation.

Starting as a bike-taxi platform in 2015, Rapido has strategically expanded into four-wheeler rides, hyperlocal logistics, and now food delivery, all while achieving a $1.1 billion valuation 1.

This trend reflects the global ride-hailing sector, where single-service platforms often struggle to achieve profitability without diversification.

The company’s gross order value doubling to $1.25 billion in fiscal 2025 demonstrates how adding complementary services can accelerate revenue growth beyond what would be possible in a single vertical.

Rapido’s planned entry into insurance distribution further illustrates how ride-hailing platforms can leverage their existing driver and customer networks to create additional revenue streams with minimal marginal costs.

2️⃣ Aggressive pricing remains the primary strategy for new entrants in food delivery

Rapido’s food delivery launch demonstrates how new market entrants continue to rely on price undercutting to challenge established players.

Recent Rapido developments