India’s leading mobility platform, Rapido, has announced plans to expand its operations from the current 120 cities to an impressive 500 cities nationwide.
The announcement was made during the Bharat Mobility Expo 2025.
The phased expansion will begin in February, initially targeting states like Karnataka, Gujarat, Tamil Nadu, West Bengal, and Rajasthan. Subsequent phases will extend services to Punjab, Haryana, Uttar Pradesh, Uttarakhand, and other regions to address the growing transportation needs of users across the country. However, the company has not disclosed a definitive timeline for the full rollout.
Highlighting Rapido’s growth, Pavan Guntupalli, co-founder of Rapido, remarked,
“With over 1.3 crore captains (riders) earning more than ₹15,000 crore through our platform, our expansion to 500 cities is a testament to our commitment to empowering individuals and building a more connected India.”
This announcement comes just 6 months after Rapido joined the unicorn club, securing a $200 million Series E funding round led by WestBridge Capital, which raised its valuation to $1.1 billion.
The funds were allocated to fuel the company’s expansion and strengthen its position in India’s highly competitive ride-hailing market.
Founded in 2015 by Pavan Guntupalli, Rishikesh SR, and Aravind Sanka, Rapido has become a leading player in the bike taxi and auto transportation segments.
In December 2023, it expanded into cab services and introduced a subscription model to enhance customer experience. Additionally, its peer-to-peer delivery service, Rapido Local, has gained traction in urban markets.
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The platform has recorded over 200 crore rides across 120 cities, with 3.6 million rides daily.
In FY24, Rapido achieved a 46% YoY growth in operating revenue, reaching ₹648 crore, while reducing its net loss by 45% YoY to ₹371 crore.
As of August 2024, Rapido surpassed the $1 billion gross merchandise value (GMV) milestone.
