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Rapido Empowers Women Gig Workforce in Hyderabad with 2,000+ Registered Bike Captains - StartupNews.fyi

Startup News FYIStartup News FYI · 1y ago
Rapido Empowers Women Gig Workforce in Hyderabad with 2,000+ Registered Bike Captains - StartupNews.fyi
Medial

Rapido, the bike taxi platform in India, has achieved a significant milestone by registering over 2,000 women bike captains in Hyderabad. These women, coming from diverse backgrounds, have completed over 8,000 rides in the past three months. The majority of these women bike riders are part-timers, juggling multiple roles alongside their Rapido commitments. To ensure safety, Rapido provides them with safety gear, a dedicated helpline, and round-the-clock support. The company aims to onboard more than 3,000 women captains in the next six months and is supporting them by facilitating driving license acquisition and offering electric vehicles for rent.

Amazon India And GAME Sign MOU Under Saheli Program To Boost Rural Women Entrepreneurship Via E-Commerce

OutlookIndiaOutlookIndia · 1y ago
Amazon India And GAME Sign MOU Under Saheli Program To Boost Rural Women Entrepreneurship Via E-Commerce
Medial

Amazon India has partnered with the Global Alliance for Mass Entrepreneurship (GAME) to support the digital growth of women entrepreneurs in India. The collaboration aims to assist around 25,000 women entrepreneurs in Tier-2, Tier-3 cities, and beyond, providing resources and training to thrive in the digital landscape. The partnership will focus on capacity building, marketing skill development, and financial independence for rural women entrepreneurs and artisans. This initiative aligns with Amazon's commitment to bolster India's economy and create sustainable jobs. Amazon Saheli, launched in 2017, has already digitized over 1.8 million women-led businesses, benefiting more than 80,000 women artisans.

Exclusive: Mobility unicorn Rapido set to raise $60 Mn from Prosus

EntrackrEntrackr · 10m ago
Exclusive: Mobility unicorn Rapido set to raise $60 Mn from Prosus
Medial

Mobility firm Rapido is set to raise $50-60 million in a mix of primary and secondary capital from Prosus, according to three sources familiar with the deal. This tranche is part of its ongoing $200 million round. “Prosus will acquire a $60 million stake in Rapido. The terms of the deal have been finalized, and it will also enable partial exits for early backers,” said one of the sources, requesting anonymity. Rapido has already secured $120 million in its Series E funding round from WestBridge Capital, through investment vehicles including SETU AIF and Konark. Entrackr had exclusively decoded this tranche in August. “With Prosus’s $60 million, Rapido will conclude its Series E round,” said another source, who also wished to remain anonymous. Sources indicate that the company’s valuation will remain unchanged. According to estimates from startup data intelligence platform TheKredible, Rapido was valued at around $1.02 billion in the initial tranche of the Series E round, funded entirely by WestBridge. Queries sent to Rapido and Prosus didn’t elicit any immediate response. We will update the story in case they do. It’s worth noting that Prosus is the largest stakeholder in food delivery and quick commerce major Swiggy. Swiggy acquired over a 12% stake in Rapido after leading its $180 million funding round in November 2022. Prosus’s interest in Rapido comes at a time when Rapido has surpassed Ola and Uber to become the largest player in the overall ride-hailing space (covering bikes, autos, and cabs), according to Rapido’s internal documents reviewed by Entrackr. Rapido has yet to disclose its FY24 numbers, but the firm’s operating revenue tripled to Rs 443 crore in FY23. This steep growth in scale also led to a 54% increase in losses, reaching Rs 675 crore in FY23.

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