Bengaluru-headquartered bike taxi aggregator and logistics service provider, Rapido, has launched its cab services in Hyderabad, marking its foray into the four-wheeler segment. Earlier last month, businessline had reported about the ride-hailing platform’s plans of venturing into the four-wheeler segment, which is dominated by industry giants such as Uber and Ola Cab.
Further, it aims to extend the cab services to other cities including Delhi-NCR, Bengaluru and Chandigarh. According to reports, the start-up is preparing to introduce cabs in Delhi-NCR as early as next week.
“We’re thrilled to share that our test run in Hyderabad for our cabs is off to a fantastic start. The city’s vibrant market has warmly embraced us, and the positive response is truly heartening. As we navigate our path forward, we are committed to keeping you closely informed about our progress and eagerly anticipate bringing our innovative services to other cities,” said a company’s spokesperson.
The ride-hailing platform has secured a dominant position in the market as a preferred bike taxi aggregator, commanding a substantial share with a margin of 65-70 per cent and serving a 10 lakh rides per day across 100 cities.
In terms of funding, Rapido has raised a total of $230 million from investors, including names like Nexus Venture Partners, WestBridge Capital, Thompson Taraz, and others.