A collaborative e-commerce platform, Oyela has raised Rs 14.4 crore as part of a fresh funding round led by early-stage venture capital fund Prime Venture Partners. The founders of this startup Rahul Gope and Anjan Kumar Patel are alumni of Indian Institute of Technology (IIT) - Bombay.
They both completed B.Tech in Mechanical Engineering from IIT Bombay in the year 2018.
Oyela, started in 2021 is a collaborative commerce platform that enables sellers to grow their business by offering tools to collaborate for better traction on social media, streamline operations, and use Instagram automation to boost sales.
As per reports, Oyela has already received Rs 4.1 crore in a pre-seed funding round from a consortium of investors which included Good Capital, Upsparks Capital and Eximius Ventures.
As quoted by the career 360, CEO of Oyela Rahul Gope said "Hailing from the Andaman islands, I once ran an online pearl boutique. My venture died down due to lack of discovery and operational barriers. Seeing the explosion of creative entrepreneurship in the country, I recognised that these challenges could resonate with aspiring entrepreneurs. Oyela was born from this vision, aiming to provide others with the tools and opportunities."
Amit Somani, Managing Partner at Prime Venture Partners, said, "GenZ generation is ecommerce native and open to experimenting with fashion. Currently, there are more than 200 million businesses/sellers on Instagram globally. The next 10 years of ecommerce growth will have a meaningful contribution from these Gen Z sellers."
He further added, "Oyela provides solutions to streamline and automate their social-media led commerce business. We are impressed by the team at the company and we believe they are on the brink of transforming the social commerce landscape in India."
