Hive has raised the sum of $400000 in seed funding to improve its subscription-based on-demand ride-hailing platform for kids. The sum was invested by Abdelmoneim Al-Adawy, a loyal customer who uses the service to commute his children since its launch.
Hive was founded by Abdelrahman Osama and Aboali in 2018 to offer safe and reliable subscription-based ride-hailing solutions for kids. It is the first ride-sharing service that is used for transporting children to and from school on a subscription basis. It uses a distance-based model to determine how much a parent should pay, depending on the distance of homes from school.
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To register kids, parents download the Hive app and adds both the school and home address. Hive uses this information to arrange a ride for a group of four children living in nearby. A captain (driver) is then assigned to the group after the parents conduct an interview. Once the captain is approved, the parents are required to pay a part of the fee upfront and complete payment within a six-month installment period.
Hive was able to complete over 6000 trips last academic session and conveyed students to 14 schools in Cairo, Egypt. In an interview with Menabyte, Abdelrahman explained that they are experimenting with another type of ride-sharing service. This uses the cars of parents who have extra space in their cars to take other children to and fro school. In this case, third-party captains are not required and these rides are 40% cheaper than the regular Hive ride-hailing services. He also revealed plans to launch all types of kid’s transportation aside from the school runs.
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