India Digest: Rapido eyes $50m led by WestBridge; Cosmeto Food, Cogos raise funds

Visual from Rapido Blog

Indian startup ecosystem is abuzz with funding activity. Rapido Bikes is close to raising a $50-million funding led by WestBridge Capital. Separately, Cosmeto Food and Cogos have secured fresh funding.

Rapido Bikes to raise $50m led by WestBridge

Rapido Bikes, operated by Roppen Transportation Services Pvt. Ltd, is close to raising a $50-million funding round led by private equity firm WestBridge Capital, The Economic Times reported.

WestBridge Capital is alone likely to contribute $30 million to the round.

Rapido also counts AdvantEdge, Astarc Ventures, Hong Kong-based Integrated Capital and global investment manager Skywatcher Fund, among its list of institutional backers.

Risers Accelerator backs Cosmeto Food

Organic handmade skin care products Cosmeto Food Organic Pvt Ltd has raised Rs 1 crore in funding from Risers Accelerator.

The funding, which will be used for product distribution, has valued Cosmeto Food at about Rs 20 crore, per a press statement. Risers Accelerator is also in talks with the promoters to invest seed capital.

The startup’s accelerator will also mentor Cosmeto for distribution and digital marketing.

IAN invests in logistics aggregator Cogos

Intra-city logistics aggregator Cogos Technologies Pvt. Ltd has raised $1 million from the Indian Angel Network (IAN), Emergent Ventures, and high-net-worth individuals.

The startup’s pre-Series A funding was led by IAN investor Niraj Saran, who will also join Cogos’ board as part of the deal.

Cogos will use the funds to optimise its existing technological offerings, develop transportation solutions, and in strengthening its workforce.