💼 Accel re-enters India’s mobility market with fresh Rapido investment

[johnblockbuster]

Accel’s investment marks its return to the ride-hailing space, years after backing Ola.
The firm purchased 11,997 preference shares for about ₹1.44B (~$16M).
Prosus’ MIH Investments matched the deal, also buying a similar stake.

Rapido is now reportedly in talks with both investors for a new primary funding round expected to close next year, with valuation details yet to be finalized.

#Accel #Prosus #Rapido #Mobility #VentureCapital #StartupFunding

[alex10]

Accel’s return says a lot about how strong the Indian mobility space is.

[Nahid Hossen]

Looks like the Rapido bet is far from over.