Bike-taxi startup Rapido saw its losses surge nearly 54 per cent in the last fiscal year (FY23) to Rs 675 crore, from Rs 439 crore in FY22. Rapido FY23 Report: Bike-Taxi Startup Posts Rs 675 Crore in Losses in Last Fiscal Year, Revenue From Operations Jumps Three Times.
The Karnataka High Court recently ordered the State government to not take any coercive action against bike-taxi services offered by Ola till the next date of hearing.