Roppen Transportation Services Pvt. Ltd., an Indian operator of bike taxi startup Rapido, has secured approximately 78.2 crore rupees ($11.2 million) in a Series A round of financing.
Backers in the round included Rapido Holdings LLC, Hong Kong-based investment firm Integrated Capital, and Karina Choudhrie Tech Sponsors India.
Led by venture capital firm Nexus Venture Partners, the round also had individual backers joining the round.
Roppen Transportation is planning to invest the net proceeds from the funding round in fuelling its growth and expansion.