Uber has injected nearly ₹3,000 crore into its India business as competition in the country’s ride-hailing market grows sharper. The fresh funding highlights a stronger push to defend market share against Rapido, which has expanded quickly in cab services. Meanwhile, Ola continues to lose ground in key cities, changing the balance in a market it once led.
Recent regulatory filings show that Uber’s India unit received ₹2,721 crore in January from Uber BV, its Netherlands-based arm. The company had already infused ₹200 crore in November. Combined, the recent capital support stands at nearly ₹3,000 crore.
The fresh funding gives Uber more flexibility in a tougher market. Ride-hailing firms use cash to support driver payouts, rider discounts, and local operations in each city. As competition increases, strong funding can directly shape how long a company can sustain that push.
Rapido has also raised new capital, though the amount is smaller in this round. The company received ₹125 crore in FY26 from Nexus Ventures. Earlier, in 2024, it raised $200 million in a Series E round led by WestBridge Capital, which gave it more room to support expansion.
By the end of FY25, Rapido reportedly held ₹345 crore in free cash, while Uber’s India arm held ₹292 crore. Those numbers show Rapido has built meaningful financial strength despite its smaller size in the four-wheeler segment.
Industry estimates indicate that Uber now holds about 45% of India’s four-wheeler ride-hailing market. Rapido, which entered the cab segment in late 2023, has already captured more than 20% share. Its rise has added pressure on both established players.
Ola’s share in the ride-hailing market has slipped to around 25%–30%, from more than 40% in FY24. The drop points to riders and drivers shifting from Ola to Rapido in important pockets of demand. As a result, the market now looks more evenly split, with no single domestic player holding a clear lead.
A new government-backed entrant, Bharat Taxi, has also started adding pressure to the sector, which could further intensify competition for drivers and riders in coming quarters.
Furthermore, Rapido’s expansion into tier-II and tier-III cities has supported its growth. The company’s subscription-based driver model has also improved its appeal in several markets. These steps have helped Rapido move beyond its earlier bike-taxi identity and become a stronger player in car rides.
The change in market structure has also shifted the focus of competition. Rapido now appears to be a central rival in the fight for scale, while Ola Electric faces pressure to protect its remaining share in urban centers.
The latest financial figures show different trajectories for Uber India and Rapido. Uber’s India revenue remained largely flat in FY25 at ₹3,849 crore, rising just 2% year on year. Rapido posted a 44% increase in revenue to ₹934 crore, although it still operates from a smaller base.
Profitability trends also show the cost of expansion and competition. Rapido narrowed its losses to ₹258 crore in FY25 from ₹371 crore a year earlier. Uber India’s losses widened sharply to ₹1,511 crore from ₹89 crore in FY24, reflecting higher operating costs linked to competitive pressure.
India’s ride-hailing fight now looks set to play out on pricing, driver retention, expansion into more cities, and app features. Cash will stay important as Uber and Rapido push for growth, while Ola tries to stop further share losses and rebuild its footing.