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The latest Swiggy-led funding round put Rapido’s valuation at around USD830 million. That’s impressive for a startup that survived on just $2 million in the first three years and exited the bike-taxi segment with a high mortality rate. Now the challenge is to prove the small to the big. In other words, to show that short-ticket rides can create a formidable mobility business.
“The one thing we are good at is not to die.” Rapido co-founder and CEO Arvind Sanka could afford a self-deprecating one-liner to describe the company’s seven-year ride. Having survived several near-death scenarios, it is now on the verge of becoming a unicorn, with a valuation of around USD 200 million and USD 830 million in the bank. Rapido is the only bike-taxi startup to reach this milestone. About three dozen startups from 2015 to 2017
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