India, June 9 -- Ride-hailing major Rapido is raising INR 125 Cr (around $15 Mn) from Nexus Venture Partners, as the former gears up for the launch of its food delivery service 'Ownly'.

The board of Rapido on May 18 approved a proposal to issue 23,872 Series E CCPS at INR 52,467 apiece to Nexus, as per the unicorn's RoC filing. The total amount to be raised from this share issue will not exceed INR 125.25 Cr.

The development was first reported by Moneycontrol.

This comes months after Inc42 reported that Rapido was raising INR 250 Cr (about $28.9 Mn) from Prosus. Both the funding seem to be part of the startup's ongoing Series E round.

In September last year, Rapido raised $200 Mn (INR 1,660 Cr) in its Series E funding round led by Wes...