Rapido operates in over 100 cities, including smaller tier 2 and 3 regions, and has a post-money valuation of $1.1 billion, placing it firmly in the unicorn club
The journey of this IIT graduate is marked by seven major failures before he finally struck gold. But the question remains—how did a man who repeatedly failed become the co-founder of Rapido, India’s leading bike taxi service?
Pawan Guntupalli’s story is one of persistence and resilience. After completing his education at IIT, he secured a high-paying job abroad. Despite the financial stability, something felt amiss. Following his instincts, Pawan returned to India with a bold dream—to build something of his own. But, as it happens, success was not handed to him.
For two long years, he worked on various ideas and startups, only to see them crumble one after the other. In fact, he failed seven times. Despite these setbacks, Pawan never gave up. He candidly shared in an interview how friends and critics alike questioned his decisions, calling it a waste of time and resources. Yet, one thing kept him going—support from his family and a fierce determination to succeed.
Finally, inspiration struck. Teaming up with his friends Arvind Sanka and Rishikesh SR, Pawan came up with an innovative solution to tackle India's notorious traffic congestion. What if bike taxis could revolutionise urban transportation? Thus, Rapido was born in 2015, a company that has now grown beyond its humble beginnings.
Starting in Bangalore with a base fare of just Rs 15, Rapido’s concept quickly caught on. Yet, it was no easy ride. Pawan faced stiff competition from giants like Ola and Uber, who also launched their bike services soon after Rapido's debut. Investors hesitated to support the new venture, fearing it wouldn’t survive against such established players.
However, in 2016, a turning point came when Hero MotoCorp Chairman Pawan Munjal backed Rapido. Soon, other investors followed suit, and Rapido began expanding aggressively. By the end of 2016, the company had 150,000 users. Fast forward to today, Rapido operates in over 100 cities, including smaller tier 2 and 3 regions, and has a post-money valuation of $1.1 billion, placing it firmly in the unicorn club.
Rapido’s growth shows no signs of slowing down. With over 400 bikes in major cities and plans to expand even further, the company is poised to reshape India’s ride-sharing landscape. And through it all, Pawan Guntupalli’s journey serves as a powerful reminder that persistence and innovation can turn even the most crushing defeats into the ultimate success.
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