Rapido Valuation Doubles After Swiggy Stake Sale

[bonk]

India’s ride-hailing startup Rapido has doubled its valuation to $2.3 billion following a secondary share sale by Swiggy. Swiggy sold its 12% stake (about ₹24 billion or $270 million) in two deals:

Prosus acquired 10% for ₹19.68 billion (~$222 million)

WestBridge Capital bought the remaining 2% for ₹4.31 billion (~$49 million)

This sale comes shortly after Rapido began piloting food delivery services, entering Swiggy’s core market. CEO confirms the new valuation is more than twice its $1.1 billion valuation from September 2024.

Rapido’s growth reflects strong investor confidence, strategic backing from Prosus, and expansion into new verticals beyond ride-hailing.

[jacson4]

Doubling valuation in a year is no joke From $1.1B in Sept 2024 to 2x+ now — serious momentum.