RAPIDO: THE BEST TWO WHEELER CAB

🗔September 3, 2020
🖉Devanshi Sharma
🗁
- StartUp Stories

Rapido Logo, Source: RAPIDO

Though taxis were consistently there, the ride-hailing administrations have considerably more mainstream after the organizations like Uber and Lyft has come locally available. These applications give the most advantageous strategy to enlist taxis and travel autonomously. However, for a consistent schedule, these are not a reasonable decision for individuals. From this blog, You will understand How Rapido became the Two-wheeler cab.

In nations like India, there is additionally an issue of traffic in large urban communities, which likewise influences the effectiveness of a rental vehicle. In any case, with the motorbikes, there is still trust in moderateness just as getting away from the traffic. This truth has propelled many individuals to assemble a bicycle ride-hailing administration, and organizations like Uber and Ola are no special case. In addition to these enormous organizations could figure out how to host the service. It is Rapido that has effectively settled its motorbike ride-hailing administration in India and The thought had just become standard, because of Ola and Uber.

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Table of Contents

GROWTH

Rapido moto - RAPIDO THE TWO WHEELER CAB — Rapido scale and growth, Source: YOURSTORY

Rapido, after that, figured out how to endure the administrative back-and-forth and develop. It presently has around 5,00,000 Captains and claims to serve more than 10 million clients. It has over 20 million application downloads and 15 million paid exchanges. This is how RAPIDO became the two-wheeler cab of India.

Rapido started its administration in Bengaluru. It is presently extended to 40 urban communities the nation over, including Hyderabad, Mysore, Vishakhapatnam, Tiruchirappalli, Madurai and many urban cities.

HISTORY

In 2015 the organization was established as the career. The two IIT graduate class and a PESU graduate class – Aravind Sanka, Pavan Guntupalli, and SR Rishikesh. In September 2018, reports were that Rapido has more than 15,000 enrolled riders, with normal rides of 30,000 for each day. Among the individuals who have stakes in Rapido is Hero MotoCorp administrator Pawan Munjal and previous Google India head Rajan Anandan and now it became the RAPIDO-THE TWO WHEELER CAB of India.

In 2019, Rapido prime supporter Aravind Sanka guaranteed that the organization has made more than 500,000 employments in India. As a result in November 2019, the organization professed to have 1 crore, enlisted users.

FOUNDERS

Aravind Sanka, Pavan Guntupalli, and S.R. Rishikesh, in 2015, in Bengaluru India, founded the Rapido cabs. Sanka and Guntupalli are cherished companions, with Rishikesh as the flat mate. Three of them were filling in as specialists in Bengaluru, winning great bucks, however, none of them couldn’t escape from the startup fever.

After the application-based ride-hailing administrations came to India, each of the three adored the idea and utilized those applications to drive to their workplaces and back. In any case, it was anything but a reasonable choice. One fine day, each of the three chose to beat this issue and search for some better and reasonable alternative for the day by day voyaging.

Although, Cruisers are very well known in India. They are the most moderate mean of voyaging. All three chose to leave their place of employment and begin chipping away at a plan of action that will assist individuals with recruiting bicycles to drive from one spot to the next at modest costs. Toward the start of their business, they named the organization ‘theKarrier’. They began the carrier in November 2014 and rebranded it as Rapido in 2015. Now Rapido commonly called as The Two Wheeler cab.

THE THOUGHT PROCESS

To hire people who have two-wheelers is the basic idea behind the startup. The companies like Uber and Ola invested heavily on the vehicles the idea was different from them. In Rapido, the bike owners just needed to register on the Rapido-captain app and verify their details with the company. After that, they were good to go. The reason behind the rise of Rapido was that they did not bother about the captains being part or full-time.

Rapido-Captain — Becoming Rapido Captain, Source indiatoday

On this app a ‘Captain’ is a partner who offers a ride. The organization gives all its chiefs protection to him. For the well being of the rider, it has remembered a couple of highlights for the application. The client gets the help just in a solitary tap on the application. Rapido has likewise set up a client care administration for the clients and offers advantages on the rides.

Practically more than 5000 drivers utilize the application consistently, and a normal of 15,000 drivers sign in to the application consistently. These drivers additionally complete more than 30,000 rides for every month on a normal, and the organization plans to make it one million rides every day before the finish of 2019. The ladies’ drivers have likewise enrolled in the application and are effectively procuring acceptable cash over it. As indicated by the details, the application typically enlists drivers of the age between 18 to 50 years.

FUNDINGS

In April 2017, Rapido brought an undisclosed sum up in its pre-Series A financing, supported by Hero MotoCorp Ltd administrator Pawan Munjal and Google India overseeing Chief Rajan Anandan. By 2018, the organization has brought $6 million up in two adjusts and was acquiring a $1.5 million income consistently. It facilitated the most recent round of financing in August 2019. And it brought over $58 million up in subsidizing drove by Westbridge Capital. Rapido needs to spend this cash on specialized advancement and expects to arrive at 100 significant urban communities in India soon.

Total Funding: $82.2M and Investors

The Rapido organizers are Forbes ’30 Under 30 Asia – Consumer Technology 2019′.

EXPANSION PLANS

The group is hoping to crash into 2020 with a bigger vision of making intra-city transportation helpful, reasonable, and open.

Rapido additionally means to build its co-ordinations business from existing 10 percent to 25 percent of its overall business incomes and is intending to extend its ‘Rapido Store’ and ‘Rapido Local’ to near 100 urban areas where it is presently operational.

Aravind further includes that while the group keeps on driving its bicycle taxi administrations across urban areas, it is utilizing innovation to move more up to date models that will assist present with completion clients just as organizations in the post COVID world.

According to Business Insider in their article, “Rapido earmarks $20 million for Marketing in FY22 to gain new users and spread brand awareness“. According to PGA Labs as mentioned in the article the bike taxi service is now a market of $150 million. The growth of this service, is at an astonishing 20% per month. Business Insider more mentioned “In India, 300 million people commute every day out of which only 1% of the bookings happen via apps and only 20% of Indians owns private vehicles today. It is estimated that bike taxis in India have the potential to create 5+ Million livelihood opportunities, generating a revenue of $10 Billion.”

BUSINESS MODEL

The Rapido application permits the client to book a ride, after which a rider (called “Skipper”) shows up in the area. The passage incorporates a base toll of ₹15 notwithstanding ₹3 for each kilometer of the ride. The “Chiefs” need to enlist through the Rapido-Captain application. By presenting the necessary archives, they got approved. They can utilize cruisers, bikes, or e-bicycles, however, the vehicle can’t be more seasoned than 2010.

Rapido is round about around short separation drive around, while our dominant part of clients are office goers. Our point is to turn out to be the most moderate drive choice for last-mile availability. “We don’t have any full-time riders, we offer full-time adaptability to our riders, implies they can offer a ride when they need.” And along these lines we are to a greater degree of bicycle ride sharing stage when contrasted with other bicycle taxi’s.

We’re a pioneer in the bicycle ride-sharing industry and we are the first organization in Quite a while who assembles an on-request bicycle ride-sharing stage for the client. With more than 150k clients, we presently work in Gurugram and Bengaluru.

We charge a commission again from riders. The commission rate is 20% of the ticket size.

As indicated by government measurements, the absolute number of enlisted bikes in India is around 154 million which is multiple times the all outnumber of 4-wheelers. We accept the bicycle ride-sharing stage can be perhaps the best answer to tackle our drive issues. Bicycle Ride-sharing can be the fate of transport in India.

RAPIDO MEANS HAPPY & SAFETY

For riders-We give an additional salary source to bicycle proprietor who is voyaging alone. We do have protection approaches for our riders moreover.

Until this point, Rapido is doing admirably in both the urban communities and we are contacting more than 2500 finished rides every day. Before long we will dispatch in new urban communities.

In other words For clients – We’re prudent, quicker, and solid drive choice around and they give protection on each ride to our clients.

HOW RAPIDO BECAME THE TWO WHEELER CAB ?

It is a platform where people can book two-wheelers at very reasonable prices. It provides a huge opportunity to the 2 wheeler owners (with proper driving license & driving skills) to earn an amount in their spare time. This app even succeeded as people in metropolitans were tired of booking cabs for smaller distances at higher rates. This app has its presence registered in seven different states and many major cities including Bengaluru, Mysuru, Gurugram, Hyderabad. Other cities like Vishakhapatnam (Vizag), Vijayawada, Tiruchirappalli (Trichy), Madurai, Coimbatore, Indore, Guwahati, Surat, and Patna.

Rapido-Taxi-Service — Rapido Taxi Service, Source: FORBES

Gradually this app has become India’s largest growing bike booking app. Being an Indian startup, it has better customer care services with more recognition in people. The partner who offers a ride on this app is known as a captain. Becoming a captain is again a very easy process and one just needs to download the Rapido captain app from google Playstore on their Smartphone and then just upload the required documents like driving license, RC, insurance, photograph, etc. Once verified, one can log in to the app as per his flexibility and offer rides. It provides a huge competition to the Indian – based online cab service providers, Ola cabs.

MORE CHALLENGES MEANS MORE OPPORTUNITIES

But in the state of Karnataka, these online bike taxi service providers are facing a lot of problems. Earlier, for six months ola cabs were banned and their license was suspended. The heavy fine of about 15 lakhs was imposed on them. Now the state government is looking to ban this app. According to Gyanendra Kumar, joint commissioner (Enforcement), the government has already seized more than 170 Rapido bike taxis by Friday (5 April 2019).

Rapido-Challenges-In-Covid-1 — Rapido challenges in Covid, Source: INVENTIVA

The COT, Narendra Holkar added to these reports that notice with the guidance of stopping bike taxi services in the states. This has been drafted to Rapido’s head office. According to the transport department of the state, they have posted letters to both Ola and Rapido to stop their bike taxi services as acc to a report in July 2018. The number of lives lost in road accidents in the city reached 3250 while the number of bike accidents was on its max. The state transport department has still not agreed to grant these companies the license to run two-wheelers as a taxi. (source-swarajyamag)

After facing such problems in the state for operating as a bike-taxi service provider, Ani technologies, the parent company of ola, filed a petition in the high court of Karnataka against the state transport department for the same cause.

FINAL THOUGHTS

Sanka says, “investors never thought bike taxis would take off in India”, Rapido now has a total funding of $75 million from investors like Westbridge Capital, Nexus Venture Partners and Integrated Capital. “We are very impressed with the execution capabilities of Rapido as they have scaled 40x in the past one year. This service is an outcome of a market necessity and will see more adoption in the future”.

In conclusion Rapido wishes to make its app user friendly to every section of society. It is working on rolling out of special and simplified features. It is striving hard to find its silver innings with innovative problems. When odd-even rules were imposed it offered free rides to Delhi commuters. With Rapido, one needs not to worry. The person can rather enjoy hassle-free commute at Rapido speed.