Business

Ritesh Agarwal: The Visionary Founder of OYO Rooms

October 16, 2025October 16, 2025startupstoryhubComment(0)

When it comes to names in the Indian startup scene, one that stands out is Ritesh Agarwal. This young man’s credit carries ambition, creativity, entrepreneurial ideology, and more. He is both founder and CEO of OYO Rooms, which has transformed the way we book budget hotels with its myriad implementations of innovation. With a keen business acumen, Agarwal himself has become a well-known name on the global business scene and at the same time won numerous awards for his performance as one of India’s youngest self-made billionaires. Read on to learn all about him, from early life through his entrepreneurial journey and earlier days until now.

Table of Contents

Early Life and Education

Ritesh Agarwal was born in Bissam Cuttack, Odisha, India, on November 16, 1993. As the family ran a shop in the small town of his birth, he inevitably was exposed at an early age to the world of commerce and business, which sparked an interest first in entrepreneurship. His early schooling was completed at St. John’s Senior Secondary School, Delhi. However, as with so many innovative entrepreneurs before him, Ritesh’s educational path took an unconventional turn.

He enrolled at St. Xavier’s College in Delhi but dropped out as school simply held no appeal to him; his true passion was building businesses! And so began his journey as an entrepreneur, when in 2013 he was selected as the first Indian to ever receive the prestigious Thiel Fellowship. This not only gave him financial backing but also an environment where he could freely pursue his venture full-time.

The Birth of OYO Rooms

In September 2012, Ritesh Agarwal launched OYO Rooms, a hotel budget platform designed to offer travelers affordable stays. The concept was inspired by his experience, which involved years of extensive travel and difficulty finding trustworthy and affordable hotel rooms using any available booking system. Oravell Stays grew quickly and was recognized in 2013 as a Venture Nursery accelerator.

The following year, Ritesh Agarwal won the Thiel Fellowship and was awarded a $100,000 grant for his company. He jumped right into his new venture with this funding, expanding it to a chain of rooms in May 2013 under his name, OYO Rooms.

OYO’s Journey to Success

By proposing that economy hotels should have consistent quality and be cheap, the idea behind OYO Rooms was bold. OYO adopted a standard approach to technology throughout the hotel industry, making it easy for travelers to book rooms online and trust that they would get what they booked.

Here are some landmarks in OYO’s development:

2013: Ritesh won the Thiel Fellowship, thereby securing a $100,000 grant for his business venture.

In 2014 OYO broke new ground by raising its first round of Series A funding and commencing operations across India.

2015 saw OYO expand with remarkable speed. The company also introduced an app for hassle-free booking and received $25 million in funding that same year.

2015: SoftBank was the lead investor in OYO’s latest round of financing, raising $100 million through Series C funds to support global expansion plans.

2016: With a million check-ins, OYO surpassed its first 2017 target, Kuala Lumpur, which was also the first international market for OYO.

2017: OYO took its first steps outside India by extending its operations to Nepal.

2018: The company moved to important markets around the world in the UK, UAE, Dubai, China, Singapore, and Indonesia.

2019: After breaking through the 330,000-room mark in 500 cities globally, OYO was ranked as one of the world’s largest hotel chains by number of locations.

By creating a positive climate for customer satisfaction and leveraging technology to its favor, Ritesh Agarwal has succeeded in raising OYO into a global hospitality brand.

Read more: Naveen Tewari | Malavika Hegde

Ritesh Agarwal’s Net Worth

As of 2020, Ritesh Agarwal’s net worth was estimated at $1.1 billion (approximately ₹7253 crores). There is every reason to believe, with the company’s global expansion ongoing and his impressive leadership, that Ritesh will be even more fortunate in future years.

By global standard, he is also one of the youngest self-made billionaires, achieving it at the tender age of just 25. Due to OYO’s ever-changing market valuations and fluctuations in the hospitality industry, his net worth in billion terms remains in a constant state of flux.

Awards and Recognitions

Ritesh Agarwal’s accomplishments in entrepreneurism have been recognized all around the world. Here are some of the impressive accolades and recognitions he has received:

Thiel Fellowship (2013): the first resident Asian to win the award.
In 2013, TATA First Dot Awards recognized one of the Top 50 Entrepreneurs in the year.
Tie-Lumis Entrepreneurial Excellence Award (2014).
Under the Consumer Tech Sector, he is listed as one of Forbes 30 Under 30.
Business World: He won the Young Entrepreneur Award.

These honors cement Ritesh’s position as one of the brightest entrepreneurship minds in India and perhaps even globally.

Ritesh Agarwal Educational and Learning Path

A fascinating blend of formal education and fresh business experience characterizes Ritesh Agarwal’s educational and learning journey. His decision to leave St. Xavier’s College completely, pursue his dream, and start OYO was courageous. This illustrates that a person’s accomplishments are not always determined by their university education and that sometimes the best perspectives come from the school of hard knocks.

During his time at the Thiel Fellowship, Ritesh received crucial training in business strategy, including how to handle rapid growth and scale a tech-driven company. This helped him get around some issues when constructing OYO.

Ritesh Agarwal’s works

Ritesh Agarwal is also an author. He has penned books that range from self development to business insights:

“Indian Engineering at all levels: A Complete Encyclopaedia of the Top 200 Engineering Colleges”.

The four OYO books extend the focus on entrepreneurship with his versatile talents outside capitalism.

Podcast: Sharing the Insights Of Ritesh Agarwal

In many interviews, Ritesh Agarwal has shared his journey as an entrepreneur and how he built OYO. He also talked about it on podcasts, such as an episode with Anand Daniel, a partner at Accel, in the #INSIGHTSPodcast2019 series, to discuss how OYO grew to be a hotel industry behemoth on a global scale. This podcast episode provides a glimpse into Ritesh’s vision, leadership, and strategies for turning a start-up into a decacorn (a firm valued at $10 billion or more.

Ritesh Agarwal: Global Entrepreneur

Ritesh Agarwal is now regarded as one of India’s most prosperous businessmen. With its tech-driven strategy and dedication to quality, his company, OYO Rooms, is still upending the global hospitality sector. Ritesh has proven via his journey that young businesspeople with the correct mindset, perseverance, and risk-taking attitude can make a big difference in the world.

Conclusion

It was a long trip from his hometown to founding a $1.1 billion business, but Ritesh Agarwal’s determination and personal leadership shine through all the more brightly. OYO Rooms has not only disrupted hospitality but also shown how technology has the power to remake traditional industries. And with his zeal for scaling the business and intimate knowledge of business strategy, Ritesh Agarwal is poised to be even more influential on an international basis for business people.

startupstoryhub

http://startupstoryhub.com

Startup India

The entrepreneurial scenario in India has changed over the last decade. The Indian government is supporting innovation through its Startup India initiative, creating employment opportunities and accelerating economic growth. In this blog, let's discuss Startup India, including its objectives, benefits, and eligibility criteria; also, know how to get a startup registered under this initiative.

What is Startups ?

A startup is the early stage of a company that is formed to develop a unique product or service, introduce it into the market, and scale it to make substantial revenues. Startups are an important part of innovation, job creation, and diversification in the economy. In India, startups play a critical role in driving technology adoption and solving complex challenges in areas such as healthcare, education, and financial inclusion.

Characteristics of a Startup

Innovation: Key concentration in developing new products, services, or processes.
Scalability: Ability to grow rapidly with low incremental costs.
Disruption: Challenge traditional business models or industries.

Importance of Startups in India

Job Creation: Startups are significant employment generators.
Economic Growth: Contribute to GDP by introducing new industries.
Technological Advancement: Drive innovation and technology adoption.

What is the Startup India Initiative?

Startup India is one of the flagship initiatives of the Government of India, launched on January 16, 2016. It aims to build a robust ecosystem that nurtures innovation and startups across the country. The idea is to give an impetus to economic growth and employment generation in a substantial way. Startup India seeks to encourage entrepreneurship by giving a boost to innovation and design, thus leading to the growth and success of the startup ecosystem.

Standup India Scheme Standup India scheme was announced on April 5, 2016, to finance new enterprises, to boost the entrepreneurship culture in India. The program ensures the availability of loans through the Scheduled Commercial Banks (SCBs), between ₹10 lakh and ₹1 crore to at least one member of the Scheduled Caste (SC) and Scheduled Tribe (ST), and at least one woman, per bank branch. The support in this new scheme is granted to businesses in the trading, services, or manufacturing sectors. This will supposedly help about 250,000 borrowers.

Key Objectives of Startup India

Making Business Easier: Simple rules, compliance, and legal steps.

Financial Help: Provide access to government funds and venture capital.

Building Skills: Offer training and mentorship programs.

Encouraging Innovation: Support research and development with grants.

Features of Startup India

Startup India Hub: This is a place where startups can connect with investors and mentors.

Fund of Funds for Startups (FFS): This is a ₹10,000 crore fund managed by the Small Industries Development Bank of India (SIDBI).

Tax Benefits: Eligible startups can get exemptions from income tax and capital gains tax.

Startup Recognition: Startups can receive official recognition from the Department for Promotion of Industry and Internal Trade (DPIIT).

The Startup India scheme eligibility criteria

If you want to get funding through the Start-up India scheme, you need to meet certain eligibility requirements. Knowing these requirements well will help you successfully go through the application process.

Business Experience: Start-ups applying for this scheme must have been operating for more than five years.
Age Requirement: Applicants must be at least 18 years old.
Company Structure: To get funds under this scheme, the company must be either a partnership or a private limited company.
Turnover Limit: The company should have an annual turnover of no more than Rs. 25 crore.
No Reconstruction: Start-ups that have emerged from the splitting or restructuring of an existing business are not eligible for this scheme. Companies that have divided an organization into two or more parts will be disqualified.

If a company is developing a new product or service, it can benefit from the Start-up India policy.

Here are the requirements:

The start-up must create, utilize, or sell a product or service that is based on new technology or intellectual property.
The focus should be on enhancing an existing product or developing a new one that adds value for customers or improves workflow.
The start-up must not engage in projects that are not unique or do not provide value to customers or enhance workflow.

To get a Startup India loan, start-ups must secure various approvals and submit specific documents:

Obtain approval from the Inter-Ministerial Board under the Department of Industrial Policy and Promotion (DIPP).
Acquire a recommendation from an incubator affiliated with a recognized post-graduate college.
Secure a recommendation from a government-recognized incubator.
File a patent for your product or service and have it published in the Indian Patent Office Journals.
If your services involve funding and equity, register with the Securities and Exchange Board of India (SEBI).
Provide a funding letter from any state or central government scheme that supports innovation.

How to Register Under Startup Under Startup India Scheme?

Step 1: Start Your Business

The first step in starting your business is to choose a legal structure, such as a Private Limited Company, Partnership, or Limited Liability Partnership (LLP). You will need to complete the standard registration process, which involves submitting an application and obtaining a Certificate of Incorporation or Partnership registration.

Step 2: Register with Startup India

Once you have created your business, the next step is to register it as a startup. This process is straightforward and can be completed online. First, visit the Startup India website and click the 'Register' button. Enter your name, email address, and mobile number, then create a password and click 'Register.' You will receive a One-Time Password (OTP) in your email. Enter this OTP and provide additional information, such as your user type, business name, and the stage of your startup. Finally, click 'Submit' to create your Startup India profile. Completing this registration will help your business be recognized as a startup under the Startup India scheme, granting you access to various benefits and support.

Step 3: Obtain DPIIT Recognition

After creating your profile on the Startup India website, the next step is obtaining recognition from the Department for Promotion of Industry and Internal Trade (DPIIT). This recognition provides benefits such as quality intellectual property services, relaxed public procurement rules, self-certification for labour and environmental laws, simplified winding-up procedures, access to the Fund of Funds, and tax exemptions for three years.

Step 4: Submit the Documents for Registration

To complete the registration process and obtain DPIIT recognition for your startup, please submit the following documents:
1. The incorporation or registration certificate of your startup.
2. Proof of funding, if applicable.
3. An authorization letter from the company's authorized representative
4. Evidence of your concept, such as a website link, pitch deck, or video (this applies to startups at the validation, early traction, or scaling stage).
5. Information regarding any patents and trademarks you hold.
6. A list of any awards or certificates of recognition you have received.
7. Your Permanent Account Number (PAN).

Step 5: Self-Certification of Eligibility Conditions

You need to confirm that your business meets the following conditions:
1. Your business must be a Private Limited Company, Limited Liability Partnership (LLP), or partnership firm.
2. Your business has been registered in India for no more than five years.
3. Your company's turnover does not exceed ₹100 crore.
4. Your company is consistently innovating or improving existing systems.
5. Your business is based on an original idea, rather than a split or reorganization of an existing business.

Step 6: Obtain Your Recognition Number

When applying for registration, you will receive your recognition number immediately. The authority will send you the certificate of registration or incorporation after reviewing your uploaded documents. Ensure that you upload accurate information to avoid errors, as mistakes can lead to fines of up to 50% of your paid-up capital or a minimum of Rs. 25,000. By fulfilling the eligibility and registration requirements, your company can participate in the Startup India scheme and enjoy various benefits provided by the government.

Wrapping Up

The Startup India initiative has revolutionized the entrepreneurial landscape in India by offering financial, regulatory, and infrastructural support. If you’re an entrepreneur with an innovative idea, registering under this program can unlock numerous opportunities for growth and success. Begin your startup journey today and contribute to India’s transformation into a global hub for innovation.

FAQ’s

Q1. What is the aim of the Startup India initiative?

Ans: Startup India aims to promote entrepreneurship, support innovation, and create a robust startup ecosystem in India.

Q2. How long does it take to register under Startup India?

Ans: The registration process typically takes 2–3 weeks, depending on document verification.

Q3. Are there any fees for registering under Startup India?

Ans: No, the registration process under the Startup India initiative is free of cost.

Q4. Can a sole proprietorship register under Startup India?

Ans: No, only Private Limited Companies, LLPs, and Partnership Firms are eligible to register.

Q5. What are the tax benefits available to startups?

Ans: Startups can avail of income tax exemptions for three consecutive years and exemptions on long-term capital gains.

Q6. Is the Startup India initiative open to foreign startups?

Ans: No, the initiative is exclusively for startups registered and operating in India.