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Rapido, a popular ride-hailing platform in India that competes with Uber, has doubled its valuation to $2.3 billion following a secondary share sale by food delivery giant Swiggy. The share sale comes just weeks after Rapido began piloting food deliveries, edging into Swiggy’s core territory. Swiggy has offloaded its entire 12% stake in Rapido for … Read more
A group of investors are considering a plan to inject another $30 million into BluSmart in a bid to revive the Indian cab-hailing startup that abruptly halted operations last month, TechCrunch has learned. The proposal from these existing investors has a catch: its contingent on BluSmart co-founder Anmol Singh Jaggi agreeing to resign. The proposed … Read more
BluSmart, India’s all-electric cab-hailing startup that was once seen as an emerging rival to Uber, appears to have suspended service in some cities just as the country’s market regulator launched a probe into Gensol Engineering, the publicly listed company that shares two of its co-founders. The cab service, which had been operating in Delhi-NCR, Bengaluru, … Read more
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