Railofy, the first startup in India to provide travel protection to railway passengers against waitlist (WL) and reservation against cancellation (RAC), announced it has raised Rs 4 crore in seed funding round from Roots Ventures, Astarc Ventures, Better Capitals etc.
The seed funding will be used to scale its presence across the country. In addition to this, Anand Srinivasan, former revenue head of GoAir, and Sunil Kumar, former joint GM of IRCTC have joined the company as mentors.
Founded in 2019 by Rohan Dedhia, Vaibhav Saraf, and Hrishabh Sanghvi, Railofy started its operations in early-2020 with select trains in Mumbai. The startup has forged partnerships with leading travel providers.
Commenting on the development, Rohan Dedhia, Co-Founder of Railofy, said, “The fresh funding will help us scale our business and onboard new trains as they start operating. The funding will be used to cater to passenger demand in the upcoming festive rush and strengthen the presence pan-India to enable protection cover for all train classes across over 2,000 passenger trains by 2021.”
Earlier, Railofy had raised Rs 7 crore from Chiratae Ventures for seed funding round.
“If the train ticket of the passengers is on the waiting list , he can reserve an AC bus or flight ticket at our platform. If the ticket is not confirmed, the passenger can travel on bus or flight by paying the price at which he had locked the ticket earlier. This saves passengers from last minute surge in ticket price,” Dedhia said.
–AN
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.