Pavan Guntupalli, co-founder of Indian bike taxi aggregator Rapido, turned a series of early rejections into a business success story now valued at more than ₹6,700 crore ($825 million), according to data platform Tracxn.
An alumnus of the Indian Institute of Technology (IIT) Kharagpur, Guntupalli’s journey began in Telangana, where he developed an early interest in computer programming and trading. After graduating from IIT, he worked with Samsung, gaining industry experience that would later prove valuable in his entrepreneurial journey.
In 2014, Guntupalli, along with co-founder Arvind Sanka, launched Rapido, aiming to tap into India’s growing demand for affordable and efficient mobility solutions. The company, however, faced significant challenges during its early days. More than 75 investors rejected the proposal, citing concerns over competition from established ride-hailing giants such as Uber and Ola.
Despite the setbacks, Guntupalli remained focused. He initially set a base fare of ₹15 with an additional ₹3 per kilometre for Rapido rides. The pricing strategy, though attractive, struggled to gain traction in the market. Undeterred, the team continued refining the business model and expanding its network.
The turning point came in 2016 when Rapido received its first major investment from Pawan Munjal, Chairman and Managing Director of Hero MotoCorp. The funding not only provided the necessary financial backing but also increased credibility for the startup in the eyes of other investors and customers.
Following this, Rapido scaled its operations to over 100 cities, including smaller towns and hilly regions where conventional cab services face limitations. The company now counts over 700,000 users and more than 50,000 driver-partners on its platform.
Guntupalli’s journey has since become a point of reference for aspiring entrepreneurs navigating India’s dynamic startup ecosystem. His ability to persevere through repeated investor rejections while identifying gaps in urban mobility has played a central role in Rapido’s rise.
While India’s ride-hailing market remains competitive, Rapido continues to focus on last-mile connectivity and cost-effective services, helping it carve a distinct niche. Guntupalli’s story underscores the potential of resilience and innovation in transforming adversity into opportunity in the Indian startup landscape.
