Railofy raises ₹7 crore from Chirate Ventures

Railofy, a data science startup that provides a travel guarantee to waitlisted or RAC train passengers, has raised ₹7 crore in seed funding from Chiratae Ventures. Railofy offers flight tickets to railway passengers if their train ticket is not confirmed after chart preparation, at a similar price. For shorter distances, the startup provides buses at nominal prices if the train ticket is not confirmed. “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,” said TC Meenakshisundaram, Founder & Managing Director of Chiratae Ventures India Advisors. Passengers can purchase the protection from Railofy’s portal against their ticket for an average price of around ₹200. If the ticket is not confirmed post chart preparation, Railofy provides a flight close to the price of a train ticket or bus for nominal prices to the destination. The price for flight/bus options is fixed at the time of purchasing WL & RAC protection itself, thus ensuring that passengers are shielded from last-minute rising fares.