Fery Rides Secures ₹2 Crore Seed Funding from IAN Angel Fund

Fery Rides, a Gurugram-based mobility platform designed for women passengers and drivers, has raised ₹2 crore in seed funding led by IAN Angel Fund. The round was led by investors Hari Balasubramanian, Uday Chatterjee, and Sri Prakash.

The company plans to use the funds to strengthen its technology infrastructure, expand operations beyond the National Capital Region, and increase its network of women drivers, whom the platform refers to as Sister Partners.

Fery Rides operates as a ride-hailing service where all drivers are women and all passengers are women. The platform includes features such as real-time tracking, SOS alerts, and customer support through WhatsApp. The company uses electric vehicles for its operations.

The platform was founded by Ajay Kumar, Vindhya Mehrotra, and Himanshu Chaubey in April 2023. Kumar has stated that the idea emerged after a friend experienced harassment from a ride-hailing driver, highlighting concerns about transportation safety for women.

Since its launch, Fery Rides has completed over 65,000 rides and has more than 250 women drivers on its platform. The app has been downloaded over 50,000 times. The service currently operates in Gurugram and has partnered with Sakha Cabs for airport transportation. The company also participated in pilot operations during the Mahakumbh in Prayagraj.

Padmaja Ruparel, Co-founder of IAN Group, noted that the platform addresses the challenge of safe mobility by placing women at the center of the solution. She described the investment as supporting a company that combines innovation with social impact.

IAN Group is a seed and early-stage investment platform in India that operates multiple funds, including IAN Angel Fund, BioAngels, IAN Fund I, and IAN Alpha Fund. The platform has invested in startups across 19 sectors in India and seven other countries.