Shunwei Capital backs Indian bike-taxi service Rapido's $55m Series B round

Photo from Rapido's Facebook page

Indian bike-taxi service app Rapido has secured $55 million in a Series B round of financing from a group of investors including Shunwei Capital, a Chinese venture capital firm led by smartphone maker Xiaomi’s founder Lei Jun.

India-focused investment company WestBridge Capital; Alibaba-backed BAce Capital, which specializes in early-stage investments in India and Southeast Asia; and Rapido’s existing investor Nexus Venture Partners all poured money into the new round, Shunwei Capital said in a statement on its official WeChat account.

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