Accel backs Uber rival Rapido as Prosus boosts stake
TVS Motor booked a 152% return as it sold its Rapido stake to Accel and Prosus. Founded in 2015, Rapido has grown into a major player in India's ride-hailing market, competing with Uber, Ola, and inDrive.
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TVS Motor has recorded a 152% return after selling its stake in bike taxi startup Rapido to investors Accel and Prosus. The exact monetary value of the deal was not disclosed.
TVS Motor booked a 152% return as it sold its Rapido stake to Accel and Prosus. Founded in 2015, Rapido has grown into a major player in India's ride-hailing market, competing with Uber, Ola, and inDrive.
