Rapido: How a Simple Bike Ride Idea Became a Unicorn Startup

In India, traffic is part of daily life. Long jams, crowded buses, expensive cabs, everyone has faced these problems at least once. Three young engineers noticed this struggle and decided to solve it in a simple way. That decision led to the birth of Rapido, India’s popular bike-taxi startup.

Rapido was founded by Pavan Guntupalli, Aravind Sanka, and Rishikesh SR. All three were engineering graduates who had regular jobs. Like most city commuters, they also struggled with daily travel. They saw that bikes could move faster than cars in traffic and cost much less. This small observation later turned into a big business idea.

At first, their startup was not called Rapido. In 2015, they started a company named theKarrier, which focused on bike-based logistics. However, the founders soon realised that people needed fast personal travel more than deliveries. They decided to change direction and focus on bike taxis. This was a risky move, but they believed in it.

The early days were very difficult. Convincing people that bike taxis could work was not easy. Many investors rejected the idea. Pavan Guntupalli faced over 70 investor rejections. Some said the market was too small, others felt people would not trust bike taxis. Still, the founders did not give up. They kept improving their idea, learning from mistakes, and talking to more people.

Things slowly started changing when Rapido began gaining users. People liked the idea of reaching their destination faster and at a lower cost. Rapido rides were cheaper than cabs and quicker in traffic. College students, office-goers, and daily workers started using the app regularly. Bike owners also joined Rapido as “Captains” to earn extra income.

A major turning point came when Hero MotoCorp’s chairman Pawan Munjal invested in Rapido. This support gave the startup both money and confidence. With funding in place, Rapido expanded to more cities and improved its app and services.

Unlike many startups that focused only on metro cities, Rapido expanded into small and medium cities. This strategy worked well because affordable travel options were limited in these areas. Soon, Rapido became popular not just in Bengaluru and Delhi, but also in smaller towns across India.

Over time, Rapido added more services. Along with bike taxis, it launched auto-rickshaw rides, cab services, and parcel delivery. This helped the company grow faster and serve more types of customers. Rapido was no longer just a bike-taxi app, it became a full mobility platform.

As the user base grew, big investors noticed Rapido’s success. The company raised large funding rounds from well-known investors and companies. This year, Rapido crossed a valuation of $2.3 billion, officially becoming a unicorn startup. This was a proud moment for the founders who once struggled to get even one investor meeting.

Today, Rapido operates in 100+ cities and provides livelihood opportunities to thousands of riders. What started as a small idea to beat traffic became a company used by millions every day.

<p>The post Rapido: How a Simple Bike Ride Idea Became a Unicorn Startup first appeared on Hello Entrepreneurs.</p>