TiE Mumbai - Mentoring and Angel Investing Comes of Age in India With OYO's Success

MUMBAI, September 27, 2018 /PRNewswire/ --

The success of OYO Rooms reinforces the importance of mentorship and angel investing in promoting good ideas and great talent. TiE Mumbai is proud of Ritesh Agarwal's achievements.

Highlights 

• The success of OYO Rooms is a testament to the strength and support that angel investors bring to young entrepreneurs. 
• The success of Ritesh Agarwal, Founder of OYO Rooms is an inspiration to India's vast pool of entrepreneurs and the spirit of entrepreneurship. 
• The recent round of funding that OYO has received reinforces the importance of the Start-Up India program of Honorable Prime Minister Shri Narendra Modi, who has been pushing entrepreneurship as the way forward for India's youth.

Ritesh Agarwal, the Founder of OYO Rooms, has secured nearly $1 billion in additional funding for expanding his room-letting and hosting business in multiple geographies. This makes OYO Rooms, among the most valuable start-ups in India. Agarwal's earliest source of funding was from key angel investors. TiE Mumbai reinforces the importance not just of networking organizations like itself, but also the exposure, funding, hand-holding and mentoring their members bring.

"There are thousands of burgeoning entrepreneurs in India with great ideas and drive. At TiE Mumbai, our role is to ensure that we spot and support as many of them as we can through mentoring, networking and access to funding," said Atul Nishar, the President of TiE Mumbai. "The success of Ritesh demonstrates that with the right support the leap time between a start-up and an Unicorn is just a few years. TiE Mumbai is proud to have to enable an entrepreneurial ecosystem."

TiE Mumbai has continuously supported young businesses in India. Its mentoring support to start-ups has made the journey from start-up to scale-up possible for several businesses, including OYO Rooms.

"OYO will be a global business brand," said Sanjay Mehta, TiE Mumbai Board member and angel investor . "Being the first investor in his business, it is exciting to see how Ritesh has built such a large company in such a short time."

"It's great to see OYO reach heights and become a Unicorn but more importantly, it is incredible to witness their rapid strides towards becoming one of the first Indian consumer Internet start-ups with global dominance," said Bharat Banka, Managing Partner, Fideliment Ventures LLP and Charter Member, TiE Mumbai

Ritesh's success will spur other budding entrepreneurs and promote India's Startup initiative. It supports Prime Minister Modi's vision of creating entrepreneurs in India.

"The reason behind the success of OYO is not just its Founder and its core team, but its investors too," said Apoorv Sharma, TiE Mumbai board member and Founder Venture Catalyst. "Today we see the expansion of OYO, but the seeds were planted years ago. I've seen Ritesh when he was just 19 and started out -- he has the ability to influence people around him in believing in his ideas."

About TiE 

The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. Since 1992, TiE has been supporting entrepreneurs by offering education, mentorship, networking and funding opportunities. The mission of TiE is to foster entrepreneurship globally through the 5 pillars of TiE : mentoring, networking and education, funding and incubation. Dedicated to the virtuous cycle of wealth creation and giving back to the community. TiE's focus area is to generate enable the next generation of entrepreneurs. There are currently 11,000 members, including over 2,500 charter members in 60 chapters across 17 countries. TiE's mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE's focus is on generating and nurturing our next generation of entrepreneurs.

Media Contact :
Jacqueline Patel
+91-9967040369
TiE Mumbai