Prosus NV Eyes $150–180M Investment in Rapido by Acquiring Swiggy’s 12% Stake

Swiggy is preparing to sell its 12% stake in Rapido, valued at more than $320 million, with Dutch investment firm Prosus NV reportedly leading the race to acquire the majority of this holding. The deal is expected to be worth $150–180 million, signaling renewed global investor interest in India’s bike-taxi and mobility startup ecosystem.

Swiggy Reassesses Rapido Investment

Swiggy invested $180 million in Rapido in April 2022, which gave it a 12% ownership. At the time, the investment was positioned as a strategic partnership, with Rapido riders also supporting Swiggy’s delivery network. However, Rapido’s entry into the food delivery market with its Ownly platform has changed the dynamics, turning the former ally into a competitor.

In July, Swiggy informed its shareholders that it would reassess its investment in Rapido, initiating an independent process to seek buyers. Avendus Capital has been appointed as the advisor for the stake sale.

Rapido’s Rising Valuation and Global Appeal

According to reports, Rapido’s valuation for this stake sale is pegged at $2.5–2.7 billion, a sharp jump from its $1.1 billion valuation in September 2024 during its $200 million Series E funding led by WestBridge Capital.

Rapido has already raised over $500 million since its inception in 2015, attracting a diverse set of investors including TVS Motor, Yamaha Motor, Shell International BV, Nexus Venture Partners, and WestBridge Capital.

Currently, Prosus owns 2.7% in Rapido, while Nexus holds 9.9% and WestBridge 19%. Co-founders Pavan Guntupalli and Aravind Sanka each own 4.8%, with Rishikesh S.R. holding 1.8%.

Food Delivery Push with Ownly

Rapido has expanded its portfolio with Ownly, its food delivery service, which charges restaurants in Bengaluru nearly half the commission compared to Swiggy and Zomato. To support this vertical, the company has established a new entity, Ctrlx Technologies, with co-founder Aravind Sanka and Vivek Krishna (VP–Finance) serving as directors.

This diversification signals Rapido’s ambition to challenge larger incumbents in India’s competitive food-tech market.

Investor Sentiment: Doubling Down on Rapido

Despite Swiggy’s planned exit, existing and new investors remain bullish about Rapido’s growth prospects. Industry sources suggest that private equity firms and large family offices are also eyeing participation in the stake sale.

“Rapido has turned around its business and is poised for stronger growth. Investors expect significant gains once it heads for an IPO,” one source familiar with the matter noted.

Swiggy’s move to divest its stake in Rapido marks a significant reshaping of India’s mobility and food delivery sector. With Prosus NV and other global investors showing strong interest, Rapido could see fresh capital inflows and greater international backing as it expands operations and prepares for a potential market listing.

FAQs on Swiggy–Rapido Stake Sale

1. Why is Swiggy selling its stake in Rapido?

Swiggy invested in Rapido in 2022 for strategic delivery synergies. However, Rapido’s entry into food delivery has created direct competition, prompting Swiggy to reassess and sell its stake.

2. How much is Prosus NV planning to invest in Rapido?

Prosus NV is reportedly looking to invest $150–180 million to acquire the largest portion of Swiggy’s 12% stake.

3. What is Rapido’s current valuation?

Rapido is expected to be valued at $2.5–2.7 billion, a significant jump from its $1.1 billion valuation during its Series E round in 2024.

4. Who are Rapido’s key investors?

Rapido’s investors include Prosus NV, Nexus Venture Partners, WestBridge Capital, TVS Motor, Yamaha Motor, Shell International BV, and its co-founders.

5. What is Rapido’s Ownly platform?

Ownly is Rapido’s food delivery service, offering restaurants lower commission rates than Swiggy and Zomato, aiming to capture market share in Bengaluru.