Urban mobility start-up Rapido has raised Rs 125 crore (approximately $15 million) from Nexus Venture Partners, as part of a larger funding round that had pegged the company’s valuation at $1.1 billion. The development was disclosed in a recent filing with the Registrar of Companies (RoC).

The new capital injection arrives as Rapido prepares to venture into the food delivery sector, with a pilot launch set for this month. The company plans to provide restaurants with more attractive commission rates — between 8 to 15 percent, compared to Zomato and Swiggy’s 16–30 percent.

This funding follows Rapido's $200-million investment round spearheaded by WestBridge Capital last year, along with an additional $30-million investment from Prosus, the Dutch investor that also supports Swiggy. In FY25, Rapido’s gross order value (GOV) more than doubled to $1.25 billion, fueled by growth in its mobility services.

Originally recognized for its bike-taxi service, Rapido has expanded into three- and four-wheeler ride-hailing, positioning itself as a competitor to established players like Ola and Uber. At present, Rapido is completing between 3 and 3.5 million daily orders across its ride-hailing and hyperlocal logistics segments, gaining traction in India’s competitive mobility market.

From a financial standpoint, the company recorded a 46 percent year-on-year rise in operating revenue to Rs. 648 crore in FY24, bolstered by growth into new service lines and increased customer demand. It also reduced its net loss by 45 percent, lowering it to Rs 371 crore from Rs.674 crore in FY23.

Rapido’s financial path illustrates the difficult balance between growth investments and financial prudence. While it has cut its losses by 45 percent to Rs.371 crore in FY24, Rapido’s monthly cash burn has escalated to $4-5 million in 2025 as it seeks to expand into new sectors.

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Investors evaluate the burn rate to assess a startup’s financial condition, with elevated rates possibly leading to lower valuations in future funding rounds unless they result in corresponding growth.