Rapido returns to pre Covid peak with schools and colleges reopening
- ByStartupStory | November 8, 2021
The online bike taxi startup Rapido has reported that it has returned to its pre-Covid peak with a sharp increase in the demand following an ease in local lockdown restrictions and reopening of various offices, colleges and schools across the country.
With the country going back to normalcy, the bike taxi platform is expecting to double its current traffic within the next 18 months. The company recently received $52 million of funding and aims to utilize the same for diversifying its operations as well as introducing electrical vehicles in its pre-existing fleet.
Commenting about the future plans of the business, the co-founder of Rapido, Arvind Sanka expressed, “We are operating a profitable business and are well capitalised. We will invest in technology, in onboarding people to strengthen the leadership team, spend more on user growth via brand-building initiatives, and enter new cities. We are working with intermediate companies which will help our pilots move to an electric two-wheeler via rent or lease. We will function as demand generators.”
Founded in 2015 by IIT alumnus Arvind Sanka, Pawan Guntupalli and SR Rishikesh, Rapido is a Bangalore based bike-taxi aggregator and logistics provider. It operates in over 100 cities across India and clocks more than 10 million orders per month.
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