Reported about 5 hours ago
Accel has invested in Indian ride-hailing platform Rapido, which competes with Uber, while Prosus has boosted its investment following the sale of TVS Motor's entire stake for ₹2.88 billion. Founded in 2015, Rapido has diversified its services from bike taxis to auto-rickshaws, cars, and courier services, recently exploring food delivery. Accel's renewed support signals a return to India's ride-hailing sector, while Prosus's continuous investment has nearly doubled Rapido's valuation to $2.3 billion.
Source: YAHOO