Rapido, an Indian online bike taxi aggregator and logistics service provider, revealed that the company has raised $52 million in a new financing round.

The fresh funding round, which values Rapido at circa $235 million, post the investment, was led by previous investor Westbridge.

Additionally, other previous backers, Hero MotoCorp, Nexus Venture Partners and Everblue Management, as well as Shell Ventures, Yamaha, among others also participated in the financing.

Rapido will invest the new funds in brand building, hiring talent, and going deeper into existing markets across its three offerings, bikes taxis, auto services and logistics and on-demand delivery.