Bhubaneswar Buzz

Startup by Odisha founder OYO Rooms get $22 m funding

Oyo rooms

OYO Rooms is a marketplace of Branded Budget Hotels, providing a standardized experience. Funded by Light Speed Ventures and Venture Nursery, OYO has more than 200 hotel properties in its fold today. This Indian version of San Francisco-based vacation rental portal Airbnb, has received a fresh round of $22 million ( Rs. 138 crore approximately). The funding round has been led by US-based GreenOaks Capital along with the existing investors. This is GreenOaks’ second investment in the growing Internet-based start-ups after

OYO Rooms, earlier known as, was started in 2011 by a then 17-year-old school dropout Ritesh Agarwal. Born and raised in a small town in Odisha’s Rayagada district, Agarwal started as marketplace for boutique guest homes, inns, bed and breakfasts, serviced apartments, holiday rental and palaces, with more than 3,000 listings.