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Bike-taxi startup Rapido raised $52 mn from Shell Ventures, Yamaha, Kunal Shah & others

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Bike taxi platform Rapido has raised $52 Mn in its latest round of funding. The startup's new investors are Shell Ventures; Yamaha; Kunal Shah (Founder, CRED); Amarjit Singh Batra (CEO, Spotify India); and Positive Moves Consulting. Existing investors, including Pawan Munjal of Hero Group, Westbridge, Nexus Venture, and Everblue Management, also participated in the funding.

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The startup noted it would utilise the funds to invest in technology, people, and supply to further boost its growth in India and make affordable transportation a reality for the masses.

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