The three co-founders of Rapido, an Indian ride-sharing platform that provides commuters with affordable and practical bike taxi services, are Aravind Sanka, Pavan Guntupalli, and Rishikesh SR. The business was established in 2015, and in just a few short years, it has become one of India’s most rapidly expanding companies.
At the beginning of their careers, Aravind Sanka and Pavan Guntupalli worked at the rental marketplace startup GrabOnRent. They noticed a chance to develop a platform that could offer people in India affordable and efficient transportation solutions because they both had experience in the transportation industry. To create Rapido, they collaborated with software engineer Rishikesh SR.
A small team of five people, including the three co-founders themselves, formed the foundation of Rapido. In Bengaluru, the platform was introduced, enabling customers to reserve bike taxis via the Rapido app. By providing trips to their friends and family, the founders’ first group of drivers evaluated the service. This aided them in developing a solid consumer base and a better understanding of the market.
The original goal of Rapido was to make commuting economical and practical, especially for short-distance journeys. The business immediately gained popularity and spread to other Indian cities. The unique business strategy of Rapido concentrated on providing clients with affordable and effective transportation options.
Rapido’s focus on safety distinguished it from its rivals, among other things. All drivers had to go through a thorough background check on the platform, which also gave them access to safety equipment including helmets and reflective jackets. Customers’ trust was increased as a result, and the platform was able to quickly enter new areas.
Rapido had reached more than 25 cities by 2018 and had completed over 10 million rides. A total of $12 million had been invested in the platform by investors, including Sequoia Capital and Westbridge Capital. The business was dedicated to carrying on with its strategy of innovation and growth after becoming a market leader in the bike taxi industry.
Rapido introduced a new service called Rapido Auto in 2019 that allows users to book auto-rickshaws on the website. Additionally, the business entered new markets, such as Bangladesh and Indonesia. The platform also unveiled brand-new capabilities, such as the ability to reserve a ride through SMS or a phone call.
With a presence in more than 100 locations, Rapido is currently one of India’s biggest platforms for bike taxis. Over 100 million rides have been taken on the site, which has also received over $120 million in funding. Deliveries like food and grocery delivery are now part of Rapido’s expanding list of services.
The co-founders’ goal of developing a reliable and reasonably priced transportation platform for commuters in India is what led to Rapido’s success. The organization has developed into a major force in the transportation industry thanks to its priorities of safety, innovation, and client happiness. Rapido’s success is largely due to the co-founders’ entrepreneurial dedication and in-depth knowledge of the Indian market.