Despite the presence of major players like Uber and Ola in India, the Indian startup Rapido managed to carve out a competitive niche. This company is not part of any established brand but is an independent startup. Recently, the company attracted new funding, bringing its valuation close to $3 billion.
Rapido was founded in 2015. Among the three co-founders are Aravind Sankha, Pawan Guntupalli, and S. R. Rishikesh. Aravind Sankha serves as the company's CEO. Thanks to a recent investment of $240 million, Aravind Sankha's stake significantly increased, allowing him to enter the list of young millionaires.
It is worth noting that about ten years ago, Rapido began its operations as a small company when the Indian market was dominated by Uber and Ola, making it a difficult task to gain a foothold for a new company.
Rapido adopted a unique strategy: instead of taxis initially, the company focused on bike-taxis. Due to the lower cost of travel and the ability to move quickly in traffic, people started using this service. From the beginning, the company's image has been associated with motorcycle transport, although the company later launched car and taxi services as well.
Education at IIT Bhubaneswar
Aravind Sankha, along with his partners Pawan Guntupalli and S. R. Rishikesh, launched this application in 2015. In the initial stages, the company faced several difficulties. There were no clear regulations regarding bike-taxis in many states, and large companies like Uber and Ola already held market positions. Nevertheless, Rapido gradually increased its market presence.
Aravind Sankha studied at IIT Bhubaneswar. He majored in mechanical engineering and received a B.Tech degree between 2008 and 2012. During his studies, he interned at Tata Motors, which gave him the opportunity to closely study the automotive and manufacturing sectors. After graduation, Aravind Sankha joined Flipkart, where he worked in the supply chain and logistics team.
Previously, he founded a startup called theKarrier. This project was a platform connecting small trucks transporting goods within the city with customers. Although this model did not achieve great success, it was during this period that the team realized that the problem of daily commutes for people in India was much more significant. This is when the idea for Rapido originated.
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