Rapido Pilots Cabs Services To Take On Uber, Ola

Bike taxi startup Rapido has piloted cab services on its platform, as it expands to take on the ride hailing giants Ola and Uber.

The Bengaluru-based startup has piloted Rapido Cabs in Hyderabad currently.

"We’re thrilled to share that our test run in Hyderabad for Rapido Cabs is off to a fantastic start. The city’s vibrant market has warmly embraced us, and the positive response is truly heartening," a Rapido spokesperson told BQ Prime. The service will soon be launched in other cities.

Founded in 2015, Rapido has raised around $310 million till date. It is currently valued at around $830 million and counts TVS, Swiggy, Nexus Venture Partners and WestBridge Capital among its investors.

With this move, Rapido will be foraying into the largely duopolistic cab-hailing industry in India. The dominant players, Ola and Uber, corner a large chunk of market share, with EV challenger BluSmart chipping away at the segment.