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 70 million in seed funding round from Chiratae Ventures, according to YourStory report.
The seed funding will be used to scale its presence across the country.
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.
Speaking about the startup, TC Meenakshisundaram, Founder and Managing Director of Chiratae Ventures India Advisors, says, “More than 300 million passengers get waitlisted on the railways each year. By solving this pain point, Railofy is addressing one of the largest transportation challenges in India.”
“While the government has been at the forefront of addressing the WL and RAC problem through initiatives like dedicated freight corridor and privatisation of trains, Railofy with its asset-light model will leverage technology by connecting excess demand of the railways to other transportation modes like flights and busses at affordable price,” Rohan says.
“Indian Railways is the backbone of our country. As India becomes more aspirational, passengers will demand a more reliable experience while travelling by the railways. Railofy is working towards this by solving one of the biggest problems affecting railways – waitlist due to congestion,” says Meenakshisundaram.
Railofy is trying to solve problems of congestion, cancellations, and hassles associated with a waitlisted railway ticket. Ever since the beginning of the pandemic, Railofy has been providing protection against railway travel for the special trains that are running across the country.
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