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Ola and Uber rival Rapido has become India's newest unicorn startup after raising $120 million, or over Rs 1,000 crore, in funding from existing investor WestBridge Capital at a post-money valuation of $1 billion.

According to reports, Rapido is likely to raise another $20 million from global investors.

Prior to this, Perfios and Bhavish Aggarwal's Al startup Krutrim Al joined the unicorn startup club.

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