Funding round
Rapido Series A
Rapido, which works in transportation services in Hyderabad, raised $11M in a Series A round announced on 1 Apr 2019, led by Nexus Venture Partners, at a $57M post-money valuation. 7 firms took part, 4 of them already investors. It is Rapido's first venture round on record.
$11M
Amount raised
$57M
Post-money valuation
$46M pre-money
7
Investors
1 lead
20%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Rapido at $57M after the new money. The $11M bought investors about 20% of the company. It is Rapido's first venture round on record, 4 years after it was founded in 2015. It is 2.5% of the $451M Rapido has raised in the venture rounds on record. Rapido raised again 65 months later: a Series E round of $200M in Sep 2024, at $1.10B post-money.
Investors
Who put money in
Nexus Venture Partners led the round with 6 other firms. Nexus Venture Partners, Integrated Capital, Karina Choudhrie and Skycatcher had backed Rapido before.
Lead investor
- backs 99 venture-backed companies existing investor
Also in the round
- backs 8 venture-backed companies existing investor
- Karina Choudhrie existing investor
- backs 6 venture-backed companies existing investor
- Ka Wing Kevin Kwong new investor
- backs 9 venture-backed companies new investor
- Timothy Ting Fai Wong new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
The closest in time: 1 in Taxicabs, then Series A rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Taxicabs | 20 Mar 2019 | $3.7M | not disclosed | VentureFriends |
| Loans & Financing | 29 Apr 2019 | $86M | not disclosed | FMO |
| Biotechnology | 25 Apr 2019 | $50M | not disclosed | NEC Corporation |
| Medical Laboratories | 16 Apr 2019 | $50M | not disclosed | Goodwater Capital and Highland Capital Partners |
| Shipping Couriers | 24 Apr 2019 | $50M | not disclosed | Barito Teknologi and Kejora Capital |
| Rippling Tech Companies | 3 Apr 2019 | $45M | $270M | Kleiner Perkins |
| Medical Supply Manufacturers | 23 Apr 2019 | $31M | not disclosed | Northpond Ventures and Baidu Ventures |
| Moveworks Tech Companies | 17 Apr 2019 | $30M | not disclosed | Lightspeed Venture Partners |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did Rapido raise in its Series A round?
Rapido raised $11M in its Series A round, announced in Apr 2019.
Who led Rapido's Series A round?
Nexus Venture Partners led it, with Integrated Capital, Karina Choudhrie, Skycatcher, Ka Wing Kevin Kwong and Nordic Capital and 1 more.
What was Rapido's valuation at the Series A round?
$57M post-money ($46M pre-money).
Did Rapido raise again after this round?
Yes: a Series E round in Sep 2024 of $200M at $1.10B post-money.