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Uber pumps Rs 3,000 Cr in India to compete new leader Rapido

EntrackrEntrackr · 2d ago
Uber pumps Rs 3,000 Cr in India to compete new leader Rapido
Medial

Uber has infused nearly Rs 3,000 crore (around $330 million) into its Indian subsidiary, Uber India Systems Pvt Ltd, amid intense competition in the ride-hailing market, as Rapido expanded its market share rapidly. The board of Uber India allotted 14.4 million equity shares at an issue price of Rs 2,022.85 each to raise Rs 2,921 crore, according to its filing with the Registrar of Companies (RoC). The parent entity of Uber India Systems Pvt Ltd, Uber B.V., invested the above-mentioned amount in two tranches. The first tranche of Rs 200 crore came in November, followed by Rs 2,721 crore in January this year. This much-needed investment came at a time when Uber India Systems Pvt Ltd reported an 89% decline in net revenue from ride-hailing to Rs 88 crore in FY25 from Rs 807 crore in FY24. Interestingly, the sharp decline comes despite the ride-hailing biz's gross revenue (commissions from rides) remaining flat at Rs 2,604 crore during the year. Meanwhile, rival Rapido crossed Rs 1,000 crore in income in FY25 and increased its market share rapidly. The company last raised Rs 125 crore in June 2025 from Nexus Venture Partners. According to media reports, Uber India Systems Pvt Ltd commands around 45% of the four-wheeler ride-hailing market, followed by Ola with a 25–30% share. Rapido, which entered the cab segment in late 2023, has already captured more than 20% of the market. Overall, Rapido has emerged as the largest ride-hailing platform in India in terms of total number of rides, with a 50% market share, followed by Uber at 40%, according to Entrackr sources. The company has a clear lead in the bike and three-wheeler segments, with over 65% market share. Uber’s chief executive officer, Dara Khosrowshahi, also admitted that Rapido is the biggest competitor for the global ride-hailing giant.

Rapido claims 207 Mn rides in Q2 FY25 with 2.5x surge in GOV

EntrackrEntrackr · 1y ago
Rapido claims 207 Mn rides in Q2 FY25 with 2.5x surge in GOV
Medial

Ride-hailing firm Rapido reported a 2.5x year-on-year growth in its gross order value (GOV) to Rs 2,461 crore in Q2 FY25 from Rs 977 crore in Q2 FY24. During this period, the company also saw a two-fold increase in rides to 207 million. It's worth noting that Rapido already claims it is now the second-largest ride-hailing service after Uber, surpassing Ola in the bike, auto, and cab segments. According to Rapido, its streamlined cost structure contributed to a reduced quarterly loss of Rs 17 crore in Q2 FY25 from Rs 74 crore in Q2 FY24. With an average of 2.6 million rides daily, the Bengaluru-based firm serves 17 million monthly passengers through a network of 2 million drivers. The company’s expansion into cab services and the addition of a Software-as-a-Service (SaaS) model have broadened its offerings and boosted driver earnings. Rapido added that it reduced fixed costs per order by 50% while strategically investing in new categories and marketing. The company disclosed its key metrics soon after filing its annual financial report for FY24, which states that its revenue from operations grew 46.3% to Rs 648 crore from Rs 443 crore in FY23. The firm also reduced its losses by 45% to Rs 371 crore. In FY24, Rapido reported a nearly 2x increase in Gross Order Value (GOV) to Rs 4,257 crore from Rs 2,419 crore in FY23. This growth was driven by a 1.5x increase in ride orders, with Rapido recording 450 million rides during the period. Rapido attributes this growth to service expansion and strategic marketing investments, which have boosted brand visibility, increased customer acquisition, and driven higher ride volumes. Rapido recently achieved unicorn status after securing $200 million in a Series E funding round led by WestBridge Capital. It has raised more than $500 million to date.

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