Nexus Venture to invest Rs 125 crore in Rapido ahead of food delivery launch

Share via:


Nexus Venture Partners will invest Rs 125 crore (around $15 million) in Rapido as a part of a larger financing round last year that valued it at $1.1 billion, the urban mobility platform said in a filing with the Registrar of Companies (RoC).

The fund infusion comes ahead of Rapido’s foray into food delivery, for which it plans to launch a pilot this month. ET has reported earlier that Rapido is looking to challenge the dominance of Eternal’s Zomato and Swiggy in food delivery. The latter holds a 12% stake in Rapido.

According to agreed terms with…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Nexus Venture to invest Rs 125 crore in Rapido ahead of food delivery launch


Nexus Venture Partners will invest Rs 125 crore (around $15 million) in Rapido as a part of a larger financing round last year that valued it at $1.1 billion, the urban mobility platform said in a filing with the Registrar of Companies (RoC).

The fund infusion comes ahead of Rapido’s foray into food delivery, for which it plans to launch a pilot this month. ET has reported earlier that Rapido is looking to challenge the dominance of Eternal’s Zomato and Swiggy in food delivery. The latter holds a 12% stake in Rapido.

According to agreed terms with…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

At WWDC 2025, Apple introduces an AI-powered Shortcuts app

At WWDC 2025, Apple showed off a new...

Mitra Chem is raising $50M for its cheaper, domestic...

Battery material startup Mitra Chem has raised $15.6...

Apple to open up underlying AI technology to developers

Apple said on Monday it will open up...

Popular

Upcoming Events

ssdfdg sdsdfg