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Rapido achieves unicorn status with $120 million funding.
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Rapido, an eight-year-old bike-taxi startup, has achieved unicorn status with a $120 million Series E funding round led by WestBridge Capital. Valued at $1 billion, it competes with Uber and Ola in India's mobility sector. Swiggy, a major food delivery company, supported Rapido in its previous funding round and intends to increase its investment following an IPO. Rapido's emphasis on two-wheelers, as opposed to cabs, addresses India's urban congestion and widespread motorcycle usage. This approach positions it favorably against conventional cab services.
| Scores | Value | Explanation |
|---|---|---|
| Objectivity | 6 | Comprehensive reporting with in-depth analysis. |
| Social Impact | 4 | Strong social discussion, influencing some public opinion. |
| Credibility | 5 | Solid evidence from authoritative sources. |
| Potential | 5 | Very high potential to trigger significant changes. |
| Practicality | 4 | Highly practical, directly applicable. |
| Entertainment Value | 3 | Some entertainment value, attracts a portion of the audience. |