Oravel Shuts Down; Founder Launches OYO Rooms

Oravel founded in 2011 by Ritesh Agwarwal when he was 18 years old has shut down. The platform was meant to be destination for short and midterm rentals for bed and break fast joints, private rooms and serviced apartments.oravel

Agarwal’s Oravel went through the startup accelerator program offered by Venture Nursery in July 2012 and had raised seed funding from angel investors and later won Thiel Fellowship ($100K funding).

Post Venture Nursery funding, Manish Sinha of Gurgaon based Cinnamon Stays  joined Oravel as a co-founder; but he quit the company few months later.oyoRooms

The company has now launched (or rebranded?) OYO Hotels, as reported by Techcircle. OYO (On Your Own) Rooms is a marketplace / chain of branded budget rooms with standardization of experience.

And AirBnB of India is…

The truth is that even AirBnB is not the AirBnB of India! The market is too fragmented for players to crack and to add to that, there is lack of trust from either buyers or seller side. AirBnB has been present in India for quite some time, has spent a lot of money in collecting listings – but still no way close to a great launch. The company has now started to focus on marketing efforts (the below image) to reach out to consumers.

Airbnb of India is...?
Airbnb of India is…?
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