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Accel has invested in Rapido, the ride-hailing platform competing with Uber in India, while Prosus has increased its stake, after Indian two-wheeler giant TVS Motor sold its entire holding.<\/p>\n
On Thursday, TVS Motor said in a stock exchange filing<\/a> (PDF) that it has sold its entire stake in Rapido for \u20b92.88 billion (about $32 million) to Accel and Prosus\u2019 investment unit, MIH Investments, securing a return of more than 152% over the past three years.<\/p>\n Founded in 2015, Rapido has grown into a major player in India\u2019s ride-hailing market, competing with Uber, Ola, and InDrive. The company began with bike taxis before expanding into auto-rickshaw bookings and car services, and has also added courier services to its platform. It has more recently been piloting a food-delivery service<\/a> in select cities, entering a segment dominated by Swiggy and Zomato.<\/p>\n TVS Motor first invested<\/a> in Rapido in April 2022 as part of the company\u2019s $180 million Series D round, joining existing backers such as WestBridge Capital, Shell Ventures and Nexus Venture Partners. The automaker bought its stake at that time for \u20b91.14 billion, according to its earlier investor disclosures<\/a> (PDF).<\/p>\n As part of the latest transaction, Accel purchased 11,997 preference shares in Rapido, while Prosus acquired 11,988 preference shares and 10 equity shares. Both investors paid about \u20b91.44 billion (roughly $16 million) each.<\/p>\n Accel\u2019s backing of Rapido marks a return to India\u2019s ride-hailing sector for the firm, which was an early investor in Ola<\/a>. The move comes as Rapido is in talks with Accel and Prosus for a new primary funding round that could close next year, according to two people familiar with the matter who spoke to TechCrunch. The exact funding size has yet to be determined.<\/p>\n Prosus is already an investor in Rapido and expanded its stake through another secondary share sale in September, when Swiggy sold its entire holding. That transaction doubled Rapido\u2019s valuation to $2.3 billion<\/a>, TechCrunch reported.<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tSan Francisco<\/span> Accel and Prosus are also early backers of Swiggy, which exited Rapido after citing a potential conflict of interest, as the ride-hailing startup prepared to expand into the food-delivery market.<\/p>\n Accel and Prosus did not respond to requests for comment. Rapido could not be reached for comment.<\/p>\n<\/div>\n
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tOctober 13-15, 2026<\/span>\n\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n