Mumbai, May 16 -- Roppen Transportation Services Pvt. Ltd, which operates Rapido, has raised $240 million in fresh capital in a round led by Prosus, with participation from WestBridge Capital, Accel and other investors, the company said in a statement on Friday. The round is part of its $730 million primary and secondary financing, valuing the startup at $3 billion on a post-money basis. Mint reported in September that Prosus was leading the round. "This investment is about accelerating our ability to unlock both structurally. We are going deeper into markets where demand exists, but supply remains fragmented, building the density that gives captains reliable, predictable earnings," Rapido cofounder Aravind Sanka said. "We will sharpen focus on strengthening supply, building technologies and expanding multi-modal footprint, with far greater speed and intent," he added. The proceeds will be used to enter new markets, deepen its presence in existing ones, expand its rider network and earning opportunities for drivers, and invest in technology and talent. The firm said the investment will help grow footprint across high-growth markets, strengthen first- and last-mile connectivity, boost platform efficiency, alongside targeted investments in talent to support long-term scale. With India's growth shifting beyond metros, the firm said two structural gaps are more pronounced: access to reliable, affordable mobility and access to employment opportunities. Rapido aims to operate at the intersection of both, building what it calls a new category where mobility acts as a large-scale economic engine. While expanding in tier-1 cities, the company said demand from smaller towns is rising rapidly. "Our investment reflects a strong conviction in Rapido's ability to scale sustainably while addressing real, large-scale challenges around access and livelihoods. Rapido has established a strong position by building a supply-led mobility platform with a clear focus on affordability and execution," said Ashutosh Sharma, head of India Ecosystem at Prosus.....