IIT Bombay Graduates Launch Innovative Commerce Platform 'Oyela'

Two graduates from Indian Institute of Technology (IIT) Bombay have joined forces to introduce 'Oyela,' a groundbreaking commerce platform aimed at empowering future entrepreneurs. The initiative has recently secured over Rs 14 crores in a seed funding round, with leading participation from Prime Venture Partners.

Rahul Gope, Co-founder and CEO of Oyela shares his personal experience of running an online pearl boutique in the Andaman Islands. The company aims to provide entrepreneurs with tools and opportunities and has been partnered with Prime Venture Partners to empower 2 million social stores in five years.

Prime Venture Partners has invested in Oyela, a company that offers solutions to streamline and automate Instagram sellers' social-media-led commerce business. With over 200 million sellers globally, the company is poised to transform the Indian social commerce landscape. Prime Venture Partners believes Oyela's innovative approach addresses challenges faced by Instagram sellers, opening new growth opportunities.

Oyela sets itself apart by driving sales for digitally native businesses with zero Customer Acquisition Cost (CAC). It leverages the extensive social reach of these businesses to boost their sales. The platform aims to facilitate growth and visibility for businesses born online.

The platform’s mission is to create an ecosystem that fosters entrepreneurial success, enabling businesses to thrive in the digital age. This initiative not only supports young entrepreneurs but also fuels economic growth by nurturing and expanding online enterprises. With the infusion of seed funding, Oyela is poised for rapid development and significant industry impact.