Rapido Achieves Unicorn Status with $120 Million

31 Jul 2024 CW Team

Rapido, an Indian bike taxi aggregator, has achieved unicorn status following a significant funding round that raised $120 million. This milestone marks a major achievement for the company and underscores its rapid growth and the increasing investor confidence in the bike taxi sector.

The funding round was led by prominent investors, including existing backers and new participants, reflecting strong market confidence in Rapido?s business model and expansion plans. The capital infusion is expected to accelerate Rapido?s growth trajectory, enhance its operational capabilities, and expand its service offerings across new and existing markets.

As a unicorn, Rapido joins an elite group of privately-held startups valued at over $1 billion. The company plans to utilize the new funds to bolster its technology infrastructure, improve user experience, and scale its operations to meet the growing demand for bike taxi services in India.

Rapido?s business model, which focuses on providing affordable and efficient transportation solutions, has resonated with a broad customer base. The company's innovative approach and strategic expansion have contributed to its impressive valuation and market presence.

The funding will also support Rapido?s efforts to enhance safety features, increase rider and driver incentives, and invest in marketing and brand-building activities. Additionally, the company aims to leverage this opportunity to explore potential partnerships and collaborations that could further drive its growth and market penetration.

With its new unicorn status, Rapido is well-positioned to continue its growth journey and solidify its position as a leader in the bike taxi industry, contributing to the transformation of urban mobility in India.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..