Xiaomi's Shunwei, WestBridge may lead $50 mn round in Rapido

Bengaluru-based bike-taxi startup Rapido is reportedly in talks to close a $50 million funding round led by Xiaomi's venture capital arm Shunwei Capital and WestBridge Capital. Existing investor Nexus Venture Partners is also participating in the round, following which Rapido will be valued at $200 million, the report said. Rapido was founded in the year 2015.