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.
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