Roppen Transportation Services Pvt. Ltd, which owns and operates Bike taxi startup Rapido has received funding from a set of investors, including Hero MotoCorp Chairman Pawan Munjal and Google India head Rajan Anandan. The company has raised pre-series A round of funding led by Munjal, AdvantEdge Partners, Astarc Ventures and Tesellate Ventures, among others.
Rapido is a commendable initiative and has the potential to generate significant employment, besides making convenient motorised transport accessible to the masses. With their strong background and passion, I believe that the founders of Rapido are well positioned to deliver on their promise,” Munjal, who invested in his personal capacity, said.
The startup said it will use the funds to expand Rapido and ramp up hiring. Rapido co-founder Aravind Sanka the startup has a fleet of about 400 bikes across Bangalore, Gurgaon and Delhi. It aims to increase the number to 1,000 within two months, he said.
Rapido was founded by IIT alumni Aravind Sanka, Rishikesh SR and Pavan Guntupalli in November 2015. It offers a mobile app platform to book bike rides for travelling solo. Rapido launched its operations in Gurgaon last month. It claims to have about 45,000 registered users in Gurgaon and Bangalore and executed about 1 lakh rides till date.
With the steadily rising urban population and four-wheelers overcrowding roads, Rapido is attempting to reduce the carbon footprint at a massive scale. Within a short period of time. The company claims 50,000 app downloads and more than 1,25,000 rides so far. 85% of Rapido’s rides are from repeat customers and 10% of the customers are women. Besides, it also helps customers save 40% cost and 50% time compared to alternative options.
Recently, the startup launched a free Bike sharing platform during the second phase of odd-even in Delhi which has got a tremendous response from the citizens of Delhi.
Safety is rapido’s utmost priority. All the Riders have proper documentation including Driving License, Vehicle Registration and Insurance. And also ensure that the Riders joining the community do not have a criminal background particularly cases of sexual offense, crime, felony or substance-abuse.
To ensure road safety and personal hygiene, Rapido offers Helmets and Shower Caps during every ride. Just ask your rider for the same. Rapido also monitors speed for each ride and sends prompts to the rider in case of over speeding. Rapido also has an emergency SOS button installed within the app which allows Rapido’s safety measures team to monitor every ride taken on the network. The company has also partnered locally with leading ambulance services to help reach hospitals in case the need arises.
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