Fery Rides Secures ₹2.075 Crore Seed Funding to Revolutionize Women‘s Mobility in India
Table of Contents
- 1. Fery Rides Secures ₹2.075 Crore Seed Funding to Revolutionize Women’s Mobility in India
- 2. Addressing a Critical Need for Safe Transportation
- 3. A Unique Model Empowering Women
- 4. Sustainable Transportation and Impressive Growth
- 5. Key Facts About Fery Rides
- 6. The Rise of Women-Focused Mobility Solutions
- 7. Frequently Asked Questions about Fery Rides
- 8. What specific technological improvements will the ₹2 crore funding enable within the Fery Rides app to enhance user safety?
- 9. Fery Rides Secures ₹2 crore from IAN angel Fund to Expand India’s First Women-Led, Women-Only Mobility Network
- 10. Funding Details & Investment Highlights
- 11. The Rise of Women-Only Mobility Services in India
- 12. Fery Rides: A Deep Dive into the Service
- 13. IAN Angel Fund’s Perspective & Investment Rationale
- 14. Impact on the Indian Startup Ecosystem & Women empowerment
- 15. Future Outlook & Expansion Plans
Gurugram-based Fery Rides, a pioneering mobility platform exclusively designed for and operated by women, has announced a ₹2.075 crore seed funding round. The investment, led by IAN Angel Fund, will fuel the company’s expansion beyond the National Capital Region (NCR) and bolster its network of ‘Sister Partners’ – the platform’s women drivers.
Addressing a Critical Need for Safe Transportation
Fery Rides was born from a pressing concern: the safety and reliability of transportation for women in India.The company’s founders recognized a notable gap in the market, where millions of women face daily anxieties and potential harassment during their commutes. The impetus for the platform came after a personal experience of a co-founder witnessing a friend’s distressing encounter with a ride-hailing service.
A Unique Model Empowering Women
The Fery Rides model distinguishes itself by creating a closed ecosystem where all rides are facilitated by thoroughly vetted and trained women drivers for women passengers. This approach prioritizes safety, dignity, and reliability.The platform leverages technology for streamlined onboarding,real-time tracking equipped with SOS alerts,and responsive customer support accessible through WhatsApp.
Sustainable Transportation and Impressive Growth
Importantly,Fery Rides operates an all-electric vehicle fleet,contributing to both sustainability and inclusive mobility solutions. Since its launch in April 2023, the platform has completed over 65,000 eco-friendly rides, supported more than 250 women drivers, and garnered over 50,000 app downloads. Fery has also established partnerships with services like Sakha Cabs for airport transfers and participated in mobility initiatives during large-scale events such as the Mahakumbh in Prayagraj.
Key Facts About Fery Rides
| metric | Value |
|---|---|
| Funding Received | ₹2.075 Crore |
| Rides completed | over 65,000 |
| Women Drivers Empowered | Over 250 |
| App Downloads | Over 50,000 |
“This fundraise is more than just capital; it’s a powerful endorsement of our vision to redefine mobility for women across India,” said Ajay Kumar, Co-founder & CEO of Fery Rides. “with the support of IAN Group and our mentors, we are poised to scale Fery into a national movement promoting safer, sustainable, and women-led urban transportation.”
Padmaja Ruparel, Co-founder of IAN Group, added, “genuine progress emerges when innovation intersects with inclusion. Fery Rides centers women in the solution to a significant challenge – secure mobility. The company has developed an innovative answer to a real problem, generating both value and positive social impact. We are proud to support a team that is reshaping transportation through empowerment, technology, and trust.”
Fery’s innovative approach not only provides passengers with a secure and stress-free travel experience but also creates valuable economic opportunities for women drivers, often marginalized within the traditional gig economy. These “Sister Partners” receive comprehensive training, financial independence, and increased confidence, many becoming inspiring role models within their communities.
One driver’s journey exemplifies Fery’s impact: a woman initially hesitant to navigate traffic now confidently completes 20 rides daily, supporting her daughter’s athletic ambitions. Her story embodies the larger mission of fostering a community where women empower and uplift one another through mobility.
The Rise of Women-Focused Mobility Solutions
The demand for safe and reliable transportation options, particularly for women, continues to increase globally. Several factors contribute to this,including heightened awareness of safety concerns,the growing gig economy,and an increasing emphasis on inclusivity and sustainability. Companies like Fery Rides are at the forefront of this trend, demonstrating that a targeted approach can address unique needs and create significant social and economic value. According to a recent McKinsey study, the demand for ride-hailing services is projected to grow by 15% annually through 2030, presenting a substantial opportunity for specialized platforms like Fery Rides to capture market share.
Frequently Asked Questions about Fery Rides
- What is Fery Rides? Fery Rides is India’s first women-led mobility platform, providing safe and reliable transportation services exclusively for women, by women drivers.
- How does Fery Rides ensure passenger safety? fery Rides employs rigorous driver vetting processes, real-time tracking with SOS alerts, and a dedicated customer support system.
- Where does Fery Rides currently operate? Currently, Fery Rides operates in Gurugram and is expanding to cover Delhi NCR and other major Indian cities.
- What makes Fery Rides different from other ride-hailing apps? Fery Rides is unique in its exclusive focus on women passengers and drivers, creating a safer and more empowering experience.
- Is Fery Rides environmentally friendly? yes, Fery Rides operates a fully electric vehicle fleet, contributing to sustainable transportation.
- How can I become a ‘Sister Partner’ with Fery Rides? Interested women drivers can apply through the Fery Rides app or website,undergoing a comprehensive training and verification process.
- What kind of funding did Fery Rides receive? Fery Rides recently secured ₹2.075 crore in seed funding led by IAN Angel Fund.
What specific technological improvements will the ₹2 crore funding enable within the Fery Rides app to enhance user safety?
Fery Rides Secures ₹2 crore from IAN angel Fund to Expand India’s First Women-Led, Women-Only Mobility Network
Funding Details & Investment Highlights
Fery Rides, a pioneering mobility network focused on women’s safety and empowerment, has successfully raised ₹2 Crore (approximately $240,000 USD) in a seed funding round led by the IAN Angel fund. This investment marks a important milestone for the company and underscores the growing demand for safe and reliable transportation options specifically catering to women in India. the funding will be strategically allocated to:
* Geographic Expansion: Scaling operations beyond current cities to reach more women across India.
* Technology Enhancement: improving the Fery Rides app with features like real-time tracking, SOS alerts, and enhanced driver verification.
* fleet expansion: Increasing the number of vehicles, ensuring availability and reducing wait times.
* Team Building: Strengthening the core team with key hires in technology,operations,and marketing.
The Rise of Women-Only Mobility Services in India
India faces unique challenges regarding women’s safety during commutes. Conventional public transport and ride-hailing services frequently enough lack the security features and comfort levels desired by female passengers. This has fueled the demand for dedicated women-led and women-only mobility solutions. Fery Rides directly addresses this need, offering a secure and empowering travel experience.
Key Drivers of Growth:
* Increased Safety Concerns: Rising awareness and reporting of harassment and safety incidents.
* growing Female Workforce: More women entering the workforce require reliable and safe commuting options.
* Smartphone Penetration: Increased access to smartphones and mobile internet facilitates app-based mobility services.
* Government initiatives: Supportive government policies promoting women’s empowerment and safety.
Fery Rides: A Deep Dive into the Service
Fery Rides distinguishes itself through its unique operating model. The company employs only women drivers, creating a supportive work habitat while simultaneously providing passengers with a sense of security and comfort.
Core Features & Benefits:
* All-Women Driver network: Drivers undergo rigorous background checks, self-defense training, and sensitivity training.
* GPS Tracking & SOS functionality: Real-time ride tracking and a dedicated SOS button for immediate assistance.
* Verified Passengers & Drivers: Stringent verification processes for both passengers and drivers.
* Community Building: Fery Rides fosters a community of women drivers and passengers, promoting empowerment and support.
* Focus on Last-Mile Connectivity: Addressing the gap in safe and reliable transportation for short distances.
IAN Angel Fund’s Perspective & Investment Rationale
The IAN Angel Fund, a prominent investor in early-stage Indian startups, recognized the significant potential of Fery Rides. Their investment reflects a belief in the company’s innovative approach to solving a critical social problem.
Key Investment Highlights (as per IAN Angel Fund):
* Large Addressable Market: The market for women-focused mobility solutions in India is substantial and rapidly growing.
* Strong Social Impact: Fery Rides contributes to women’s empowerment by providing employment opportunities and enhancing safety.
* scalable business Model: The app-based platform allows for rapid scaling and expansion.
* Experienced Founding Team: The Fery Rides team possesses the necessary skills and experience to execute their vision.
Impact on the Indian Startup Ecosystem & Women empowerment
Fery Rides’ success story is inspiring for the Indian startup ecosystem, particularly for women entrepreneurs. The company demonstrates that it is possible to build a profitable business while simultaneously addressing a critical social need.
Ripple Effects:
* Encouraging Women Entrepreneurship: Inspiring more women to launch their own ventures.
* Creating Employment Opportunities: Providing sustainable employment for women drivers.
* Promoting Gender Equality: Challenging traditional gender roles and promoting inclusivity.
* Setting a New Standard for Safety: Raising the bar for safety and security in the mobility industry.
Future Outlook & Expansion Plans
Fery Rides aims to become the leading women-led, women-only mobility network in india. Future plans include:
* Expanding to Tier 2 & Tier 3 Cities: Reaching underserved communities with limited transportation options.
* Introducing new Services: Exploring options like carpooling and shuttle services tailored for women.
* Partnerships with corporate Clients: Providing safe transportation solutions for female employees.
* Integrating with Public Transportation: Creating seamless connectivity between Fery Rides and existing public transport networks.
* Exploring Electric Vehicle Integration: Transitioning to a more sustainable and environmentally friendly fleet.
