New Delhi, Feb. 14 -- The ride-hailing company Rapido based in Bengaluru secured INR 250 crore worth of funding from Prosus during its Series E funding process. Rapido has recently obtained INR 250 crore (brain USD 29.7 million) while recently receiving USD 120 million from WestBridge Capital seven months prior.

The regulatory disclosures indicate that Rapido's board authorized 47,743 Series E preference shares to be issued at INR 52,467 each to raise fresh capital. The company aims to collect USD 200 million through this financing round while valuing its operations at USD 1.1 billion. Rapido has obtained two defining investments totaling USD 120 million and USD 29.7 million which has resulted in Prosus owning 2.9% of the company.

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