Railofy, a Travel startup, has raised Rs 4 cr in a seed funding round from venture capitalist firms Roots Ventures, Astarc Ventures, Better Capitals etc. Railofy gives wait-listed train passengers an option to reserve a bus or flight ticket. If the ticket is not confirmed, the passenger can travel by paying the price at which he had locked the ticket earlier. Fresh funds will be used to scale up business and onboard new all train across all classes of over 2,000 passenger trains by 2021.
Insurance: Blockchain can automate the insurance process, ensure smooth claims and cut insurance fraud. Banking: Blockchain is used to validate identities, detect fraud in KYC rules. Travel: Blockchain’s P2P transaction feature avoids middleman between a traveller (looking for accommodation) and host. Data storage feature can save information about frequent travellers, later sending it directly to officials for checking. This reduces time for passport checking.