StopDownOpen the app

Funding · Mobility & Logistics

Prosus acquires stake in Rapido from Swiggy and TVS Motor

By ·

Rapido logo
Date
Company
Rapido
What it does
ride-hailing app
Kind
Funding
Amount
INR 2,400 Cr
Stage
Series E
Founded
2015
Sector
Mobility & Logistics

What they do

Rapido is a ride-hailing app operating in India, offering bike taxi, auto, and cab services

What happened

Prosus acquired a stake in Rapido worth INR 2,400 Cr from Swiggy and TVS Motor in separate transactions

Why it matters

The acquisition was approved by the Competition Commission of India (CCI) and clears the way for Prosus to increase its influence in the Indian mobility market

The details

  • The Competition Commission of India (CCI) approved Prosus’ acquisition of a stake in Rapido, a ride-hailing startup, in January 2026.
  • Prosus acquired shares worth INR 2,400 Cr from Swiggy, which had previously invested in Rapido.
  • Swiggy sold its entire 12% stake in Rapido to Prosus and WestBridge in a deal valued at INR 2,400 Cr.
  • TVS Motor also sold part of its stake in Rapido to Prosus for INR 145 Cr in a separate transaction.
  • The CCI approval clears the way for Prosus to increase its stake in Rapido and potentially invest further in the company.

The bigger picture

  • Prosus has been expanding its presence in India’s mobility sector, with a focus on preparing its portfolio companies for IPOs.
  • Rapido has been growing rapidly and is preparing for a public listing, expected to begin in 2026.
  • The acquisition by Prosus strengthens its position in the Indian ride-hailing market, where it has outperformed competitors like Uber and Ola.

About the business

  • Rapido is a ride-hailing app that operates in India, offering services such as bike taxis, auto rides, and car rentals.
  • The company targets a wide customer base by maintaining a cost-effective business model.
  • The company has been expanding its operations and is preparing for a public listing in 2026.
  • Rapido’s business model focuses on serving a large number of users at a lower cost compared to its competitors.

What happens next

  • Rapido is preparing for a public listing, expected to begin in 2026.
  • Prosus may consider further investments in Rapido to strengthen its position in the Indian mobility market.

The deal

Type
stake-sale

Investors

  • Prosus (buyer) — A Dutch investment firm with a focus on technology and consumer internet companies.
  • Swiggy (seller) — An Indian food delivery and ride-hailing company that sold its stake in Rapido.
  • TVS Motor (seller) — An Indian automobile company that sold part of its stake in Rapido.

Founders

  • Aravind Sanka, co-founder

About Rapido

Product
A ride-hailing app focused on bike taxis, with expanding mobility and delivery offerings.
Customers
Commuters and riders seeking low-cost transport, plus drivers earning through the platform.
How it makes money
Charges commissions or service fees on rides and related marketplace transactions.
What sets it apart
Uses two-wheelers to provide low-cost, flexible urban transport and matching.
Operations
Operates in multiple Indian cities and is building a broader super-app model.

Other articles talking about it

Read it as a card in the app

More on Rapido

Everything on Rapido →

Same day

All startup news on 12 January 2026 →