US-based Uber pumps Rs 3,000 crore into India unit as competition with Rapido intensifies

US-based ride hailing giant Uber has infused nearly Rs 3,000 crore (about $330 million) into its Indian subsidiary, Uber India Systems Pvt. Ltd., as competition in the ride-hailing market intensifies and rival Rapido expands its market share.

Regulatory filings show that Uber India Systems Pvt Ltd has received nearly Rs 3,000 crore from its Netherlands-based parent, Uber B.V., in recent months. In November, the company infused Rs 200 crore, followed by Rs 2,721 crore in January.

According to filings with the Registrar of Companies, Uber India allotted 14.4 million equity shares at an issue price of Rs 2,022.85 each, raising Rs 2,921 crore across the two tranches. The fresh capital comes at a time of heightened competition in the four-wheeler ride-hailing segment.

The infusion coincides with a sharp shift in financial performance. Uber India Systems Pvt Ltd reported an 89% decline in net revenue from ride-hailing to Rs 88 crore in FY25, down from Rs 807 crore in FY24. This was despite gross revenue from commissions remaining flat at Rs 2,604 crore during the year.

Overall revenue for Uber’s India business stood at Rs 3,849 crore in FY25, reflecting a modest 2% year-on-year increase. However, losses widened sharply to Rs 1,511 crore from Rs 89 crore in FY24, indicating higher operating costs amid competitive pressures.

Rapido, backed by investors including WestBridge Capital and Nexus Venture Partners, has scaled rapidly since entering the four-wheeler cab segment in late 2023. The company raised Rs 125 crore in June 2025 from Nexus Venture Partners. Its earlier $200 million Series E round in 2024, led by WestBridge Capital, pushed the Bengaluru-based startup into the unicorn club.

In FY25, Rapido reported a 44% increase in revenue to Rs 934 crore and crossed Rs 1,000 crore in overall income, according to media reports. Losses narrowed to Rs 258 crore from Rs 371 crore a year earlier.

Across segments, Rapido has emerged as the largest ride-hailing platform in terms of total number of rides, with around 50% market share, compared with roughly 40% for Uber. The company leads the bike and three-wheeler categories with over 65% share.