Fero owns an electric two-wheeler fleet and rents it, week by week, to India's delivery riders — energy, maintenance, replacement vehicles and insurance bundled into one predictable price. Founded by two operators who built and ran this exact model at scale before starting Fero.
India's gig workforce runs on two-wheelers it cannot afford to own, service, or replace. Fero takes the asset, the energy and the downtime off the rider and prices the whole thing as one weekly number — battery-less scooters on a swappable-battery network, so the fleet carries no battery capex or degradation risk.
High daily fleet utilisation is the operating target that drives every pricing and centre-density decision.
Share of active riders with a positive wallet balance is tracked as a core metric, not an afterthought.
Usage-based part pricing reduces disputes and churn while keeping maintenance margin honest.
Long-term plan to move upstream into vehicle manufacturing for structural cost efficiency.
The founding team ran rider operations, fleet operations, wallet health and collections for one of India's largest e-2W delivery fleets — before starting Fero.
Ex-EVP Operations at India's largest e-2W delivery fleet, owning rider operations, analytics and fleet utilisation across a multi-city operation. Took fleet wallet health to a strong majority and meaningfully cut bad debt.
Previously ran P&L at OLX Autos, with earlier roles at Snapdeal and Healthkart. MBA, IIM-Kozhikode.
Scaled multi-city EV delivery fleet operations from the ground up, with deep expertise in uptime, swapping and maintenance economics.
Previously Regional Sales Lead at Honda 2W and Senior Key Accounts at Apollo Tyres. Automobile engineer, Six Sigma certified.
Recruiting a technical co-founder / CTO to complete the founding team.
Single-city launch, proving centre density and utilisation before expanding.
Delhi-NCR, Bangalore, Hyderabad, Mumbai, Pune — same centre-density playbook, city by city.
Use the rider relationship as a platform for the other things gig workers need — housing and financial services among them.
Financial statements, unit economics and the capital plan are shared in a conversation, under NDA.
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