ISSUE NO: 17
SEP-OCT
STARTUP OF THE MONTH – OYO ROOMS
Ritesh Agrawal, the 22 year old is
the founder of OYO Rooms. In
2012, he founded Oravel when he
was 18, Oravel is an Indian version
of the online rental site Airbnb. He
secured Rs.30 lakh as funding
from Venture Nursery in the same
year. When he was 19, he chucked
the idea of Oravel, the Airbnb
business model and changed his
business to OYO Stays, a place in
the market for branded budgeted
hotels, just as Olacabs is a
marketplace for cabs. OYO Stays
received funding of Rs.4 crore
from Lightspeed Venture Partners
(LSVP) in February 2014 and DSG
Consumer Partners, Singapore, at a
pr