Rapido hits $3B valuation on $240M Prosus-led round; doubles down on Ownly food delivery
Rapido raised $240M primary at a $3B valuation, part of a $730M round that saw Swiggy and TVS exit via secondary. Capital will fund tier-2 mobility expansion and scale Ownly, escalating its food-delivery challenge to Swiggy and Zomato alongside its ride-hailing fight with Uber and Ola.
What happened
Rapido raised $240M led by Prosus at a $3B valuation, part of a $730M round. Swiggy and TVS exited via secondary. Funds will expand tier-2 mobility footprint
Key facts
- $240 million primary funding
- $3 billion valuation
- $730 million total round
- $700 million lifetime primary funding
- previous $2.3 billion valuation
- $1 billion unicorn valuation July 2024
Why this matters
Rapido's pivot into food delivery via Ownly reshapes the competitive map—Swiggy and Zomato now face a well-funded third entrant just as Uber/Ola defend share, opening partnership and consolidation angles.