Last Updated:
Pavan Guntupalli, an IIT Kharagpur graduate, co-founded Rapido, a bike taxi platform that operates in over 100 cities, valued at $825 million.
Pavan Guntupalli co-founded Rapido, a bike taxi platform.
One would have hardly ever thought that in a quiet corner of Telangana, a young boy fascinated by computer programming and trade would one day go on to build a transportation empire worth over Rs 6,700 crore. That boy is Pavan Guntupalli – an IIT Kharagpur graduate who transformed repeated rejection into a story of resilience and remarkable success.
After earning his engineering degree and working in Samsung’s software development team, Guntupalli found the corporate life uninspiring. It wasn’t a lack of skill or opportunity, it was the pull of something greater. Alongside his friend Arvind Sanka, he ventured into the logistics space with a startup called theKarrier. But the duo’s first foray into business met a dead end.
Failure, however, did not discourage Guntupalli. Instead, it became a catalyst for reinvention. He dissected his startup’s collapse, zeroed in on inefficiencies, and identified a gap in the rapidly urbanising transportation ecosystem: last-mile connectivity. His solution? A bike taxi platform that could zip past congested roads where cabs faltered.
That vision took shape in 2014 as Rapido. But even the strongest ideas need backing – and Guntupalli found none. More than 75 investors turned him down. Some cited fierce competition from the likes of Ola and Uber, while others doubted the feasibility of a two-wheeler taxi service in a country infamous for regulatory roadblocks and unpredictable traffic.
Still, Guntupalli persisted. Starting with a modest pricing model – Rs 15 base fare and Rs 3 per kilometre – Rapido catered to the affordability and agility the commuter craved. Initial traction was slow, but his persistence paid off. In 2016, a breakthrough came when Pawan Munjal, Chairman and MD of Hero MotoCorp, invested in the fledgling company. The endorsement acted as a launchpad, unlocking new doors and fresh rounds of funding.
Rapido rapidly expanded across the country, adapting to the unique topographies and commuter needs of over 100 cities. It built a particularly strong presence in hilly terrains where car-based ride services struggle. With over 7 lakh users and 50,000 drivers, the platform has now become a staple in urban daily commute. According to Tracxn, the company is currently valued at more than $825 million.
Today, Pavan Guntupalli stands as a beacon of entrepreneurial tenacity. From relentless investor rejections to taking on industry giants, his journey underscores a powerful truth – that perseverance, when fused with vision and strategy, can defy even the harshest odds.
