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.
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.
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.