Success often hides behind failure, and no one knows this better than Pavan Guntupalli, the co-founder of Rapido, India’s largest bike-taxi platform that today stands tall with a valuation of $1.1 billion (Rs 6700 crore). But his journey to the top was far from easy. It was one of grit, persistence, and sheer belief in an idea that most investors dismissed—not once or twice, but 75 times.H
Humble Beginnings and IIT Dreams
Born in Telangana, Pavan was a curious and bright child who developed an early fascination with computers and the stock market. His determination and brilliance earned him a place at the prestigious IIT Kharagpur, where he pursued a degree in Electronics and Electrical Communication Engineering. Like many IITians, a secure and high-paying job awaited him. But unlike most, Pavan had a different dream: to build something of his own.
From Samsung to Startups: The First Failure
After graduating in 2012, Pavan started his career with Samsung Research India. He worked on advanced communication protocols and mobile technologies, which gave him a solid technical foundation. But the entrepreneur within him couldn’t be silenced.
His first shot at business was with a logistics startup called theKarrier, co-founded with Arvind Sanka. Despite their vision and hard work, the venture failed to scale and had to be shut down. For many, a failed startup is the end. For Pavan, it was just the beginning.
The Birth of Rapido: An Idea on Two Wheels
In 2015, alongside Rishikesh SR and Arvind Sanka, Pavan co-founded Rapido—a bike-taxi platform built around the idea of affordable, quick, and accessible rides in traffic-congested Indian cities.
The concept was ahead of its time. While Uber and Ola were focusing on four-wheelers, Rapido saw a gap in the market: two-wheelers could move faster in urban traffic, cost less, and reach customers in even the narrowest lanes. But when they pitched the idea to investors, the response was brutal.
75 Rejections and the Breakthrough
Over and over again, investors turned them down. Some couldn’t see the scalability. Others feared competing with giants like Uber. But the team believed in their mission: to create a transportation solution truly made for India.
Then came the turning point. Pawan Munjal, Chairman of Hero MotoCorp, recognized Rapido’s potential and decided to invest. That one ‘yes’ changed everything. With funding secured and credibility gained, Rapido was officially launched in 2016.
Building the Business: One Ride at a Time
Rapido started with a base fare of Rs 15 and Rs 3/km, which appealed to the common man—students, gig workers, office-goers. But low margins and high expectations meant the team had to hustle constantly to grow while keeping the service efficient.
They focused on creating an easy-to-use app, training their rider-partners (known as “captains”), and ensuring customer satisfaction. Word of mouth and affordability helped the app gain momentum.
Rapid Growth and Recognition
Fast forward to 2024, Rapido now operates in 100+ cities, has over 50 million app downloads, and employs more than 50,000 captains. From metros to tier-2 cities, Rapido has become a go-to mobility option for millions of Indians.
The company raised $200 million in a Series E funding round and entered the unicorn club with a valuation of over $1.1 billion. Investors who once doubted the idea are now watching Rapido redefine the ride-hailing ecosystem.
A Lesson in Resilience
Pavan Guntupalli’s personal net worth today runs into hundreds of crores—but more importantly, his journey inspires thousands of young entrepreneurs who face rejection, uncertainty, and fear of failure.
He has proven that you don’t need the perfect start—you need relentless belief. Rapido’s success is a reminder that India is hungry for local solutions, and there’s immense power in building for the masses.