To gain unicorn status, private companies must be valued at more than $1 billion without listing on the stock markets. Rapido has thus reached the $1 billion grand company valuation and is expected to make $20 million more from investors overseas. The two-wheeler service company have raised a total of $329 million as reported by Tracxn.

Swiggy, a primary investor in the 2022 funding round did not participate in this year’s funding. The 2022 funding round was led by Swiggy, a food delivery app. The funding round raised over $180 million which raised the company’s valuation to $825 million that year.

Rapido: More on The Company

The startup was founded in 2015 by co-founders, Pavan Guntupalli, Rishtikesh SR and Aravind Sanka. The company is based in Bangalore, Karnataka, India and the service is available in more than a hundred cities all over India.

Furthermore, the company has over 25 million app downloads with more than 10 million customers. The transport service is not only limited to two-wheelers as the service also extends to taxis and auto-rikshaws as well.

The startup was developed as a cheaper alternative to traditionally expensive taxis. It also provides passengers with affordable and transparent pricing, without any hidden charges.

Additionally, Rapido also emphasizes safety as they have safety measures put in place to protect both the passengers and the drivers.

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This AI tool can analyse billions of documents such as PowerPoints, spreadsheets, transcripts and PDFs to provide appropriate answers to users The startup is based in New York, United States.

The AI technology aims to transform the method of searching through huge amounts of documents. 

The AI company was started by George Sivulka, Lukas Schmit and Tim Lupo in 2020. Sivulka founded the company while he was undergoing his PhD at Stanford. He then realised the need for a simpler and faster way of searching for documents after witnessing his friends scour through hundreds of documents just to find a handful of information.

Hebbia’s main goal is to decrease time spent searching for documents, thus saving time and increasing company productivity. 

Hebbia’s main clientele are investment banks and hedge funds and other sectors also utilise this AI technology, including finance, law, pharmaceuticals, and governments.

Hebbia and its recent breakthrough in funding

The AI startup has recently raised around $100 million in a Series B funding round. This round of funding was spear-headed by Andreessen Horowitz. The funding success has thus highlighted the increasing demand for AI tools to refine and simplify information retrieval operations. 

Hebbia has around 13 investors, including Andreessen Horowitz, Index Ventures, Floodgates, Abstract Ventures and more. 

The company is headquartered in New York, United States and the startup has around 200 employees. 

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