Meet someone facing 57 rejections and then set up a company of Rs 67,000 crore that competes with Uber, Ola, and his net worth is Rs …
After graduating in 2012, Pavan joined Samsung Research India as a software developer. During his tenure, he gained valuable insights into communication protocols and operator compatibility. Despite a promising career in the technology industry, Parvin is eager to start his own business.
IIT Kharagpur alumnus Pavan Guntupalli carved a unique path in the entrepreneurial world. As co-founder of India’s leading bicycle – Taksi service company Rapido, he is competing with industries such as Uber and Ola. Pavan was born and raised in Telangana and performed well in computer programming and stock trading. His academic talent cleared him of the IIT-JEE exam and received admission to IIT Kharagpur, who pursued a bachelor’s degree in electronics and denomination communications engineering.
After graduating in 2012, Pavan joined Samsung Research India as a software developer. During his tenure, he gained valuable insights into communication protocols and operator compatibility. Despite a promising career in the technology industry, Parvin is eager to start his own business. This ambition led him to co-found the “Thekarrier” of a logistics startup with Arvind Sanka. Unfortunately, the joint venture struggled to gain traction and eventually was shut down.
Pavan did not fail, launching Rapido in 2015 with co-founders Rishikesh SR and Arvind Sanka. Rapido aims to provide affordable bikes – Taksey and Cars – Rickshaw services to be fast and easy to budget friendly. But ensuring the funding proved challenging – 75 investors turned down his stadium, doubting Rapido’s ability to compete with well-known players like Uber and Ola. The turning point was when the chairman of hero Motoop Pawan Munjal realized the potential of Rapido and invested in the startup. This recognition paved the way for other investors to bring Raido’s official launch in 2016.
The base fare of Rapido is 15 rupees and 3 rupees per kilometer, making it accessible but brings a profit challenge.
According to the Economic Times, as of September 2024, the ride-hailing app is worth $1.1 billion. The company valued it after raising $200 million in the Series E funding round.
