Uber Rival Rapido Doubles Valuation To $2.3B After Swiggy Exit

Uber Rival Rapido Doubles Valuation To $2.3B After Swiggy Exit

Uber Rival Rapido Doubles Valuation To $2.3B Following Swiggy Stake Sale Rapido, India’s fast-growing ride-hailing app and Uber rival Rapido doubles valuation to $2.3B following Swiggy stake sale , signaling a major shift in the country’s mobility and delivery landscape. The boost comes just weeks after Rapido quietly entered the food delivery space, edging into Swiggy’s core business. Image : Google Swiggy Offloads Its Entire Stake In Rapido Food delivery giant Swiggy has sold its full 12% stake in Rapido for ₹24 billion (about $270 million). The exit happened through two major deals, according to fresh regulatory filings. Around 10% was picked up by Dutch investment powerhouse Prosus for ₹19.68 billion (roughly $222 million). The remaining 2% stake went to WestBridge Capital for ₹4.31 billion (about $49 million). Prosus Strengthens Its Position Prosus, already a common backer of both Swiggy and Rapido, has now strengthened its role in India’s competitive tech ecosystem. It remains the large…