Freight Tiger raises fresh funds in series B; Secures Debt fund from Ritesh Agarwal’s Arora Ventures

Logistic startup Freight Tiger has raised 11 Cr in a series B2 round led by existing investor Lightspeed Venture. Moonstone Investments and existing investors Pawan Munjal Family Trust and Astarc Ventures also participated in the series B2 round. According to regulatory filings, Lightspeed Venture contributed INR 6.5 Cr and has been allotted 19,468 convertible preference shares.…

ByGirish ShettiJuly 2, 20210Comments

News

Oyo Quashes Bankruptcy Rumors after NCLT accepts Petition against its Subsidiary

Budget hotel room major Oyo Rooms has categorically rejected Bankruptcy rumors, which began to spread after NCLT accepted insolvency petition against one of Oyo’s subsidiaries. For all those who are not aware, NCLT on Wednesday accepted insolvency petition against Oyo subsidiary Oyo Hotels and Homes Pvt Ltd. The petition has been filed by Hyderabad based creditor…

ByGirish ShettiApril 7, 20210Comments

News

Ritesh Agarwal backed Travel startup Zingbus forays in West India Region

Leading travel startup Zingbus has expanded its footprints to the western region of Maharashtra and Gujarat and has also briefly connected to parts of Madhya Pradesh and Karnataka. With this expansion, the travel startup now connects more than 100 cities across several states and has further consolidated its pan-India presence. Zingbus Team In the newly forayed region…

ByGirish ShettiMarch 2, 20210Comments

News

Ritesh Agarwal starts his own Personal Investment company

What is common between Sachin Bansal, Binny Bansal, Kunal Bahl, Rohit Bansal and Vijay Shekhar Sharma. Apart from the fact that they are all highly successful entrepreneurs, they are equally prolific investors and have invested in dozens of startups through their personal investment vehicles. Now Oyo’s Ritesh Agarwal is the latest name to be added…

ByGirish ShettiJuly 29, 20200Comments

News

Donald Trump’s word of praise for Oyo and Ritesh Agarwal

Oyo has been battered by lot of bad press in recent weeks, from news about massive job cuts to investor’s reported concerns over company’s ballooning losses. US President, Donald Trump...Image Source: Flickr But on Tuesday Oyo and its talismanic founder & CEO Ritesh Agrawal got much needed word of encouragement from none other than US President Donald…

ByGirish ShettiFebruary 26, 20200Comments

Funding News

Oyo may have Already Started Laying Off Employees; Over 3000 Workers Laid Off

Last week Oyo Rooms confirmed the worst fears of economic slowdown and consolidation finally hitting the Indian startup industry, after the Gurgaon based company announced that it is firing nearly 20% of its Indian workforce in coming weeks. Company’s founder and CEO Ritesh Agarwal did not specified about any exact deadline though it was assumed…

ByGirish ShettiJanuary 20, 20200Comments

News

Oyo May Soon Fire Nearly 20% of its Indian Workforce: Report

The year 2020 might prove to be the year when Indian startups will have to wake up from their slumber and smell the coffee. And the ongoing economic slowdown may only further increase the vulnerability of Indian startups that are already under enormous pressure to streamline their balance sheet. The first cracks of this vulnerability…

ByGirish ShettiJanuary 14, 20200Comments

News

OYO’s Success Story will now Echo in Harvard Class Rooms

It is no secret that today the stories of Oyo Rooms’ stellar success have become part of curriculum studies across several Indian business schools. But now the anecdotes of Oyo’s inspirational journey will also be taught at Harvard Business School, one of the world’s most prestigious business schools. Harvard has agreed to induct a case…

ByGirish ShettiJanuary 2, 20200Comments

Funding News

Ritesh Agarwal now Officially Owns 30% Stake in OYO Rooms

Ritesh Agarwal now enjoys unprecedented control over OYO Hotels and Homes – a company that he founded way back in 2013. The Gurgaon based company has officially undergone major changes in the ownership pattern with Agarwal now owning 30% stake in the company. Image Source: Ritesh Agarwal's official Twitter handle The official changes in Oyo’s ownership pattern…

ByGirish ShettiSeptember 17, 20190Comments

Funding News

Japanese Consortium will Fund Agarwal’s $2 Bn Buyback in Oyo

Japanese financial services Nomura and Mizuho will be part of the three member consortium team that will finance Ritesh Agarwal’s buyback proceedings in Oyo Hotels and Homes. The third member of this consortium is also a Japanese financial company but its identity is still not known. Three member Japanese consortium including Nomura & Mizuho will fund…

ByGirish ShettiJuly 23, 20190Comments

Best Choice for Creatives