Oyela, a collaborative commerce platform, is making waves in the world of social commerce. The company recently announced that it has secured a substantial INR 14.4 Crore in funding. This exciting development comes as Oyela continues its mission to empower budding entrepreneurs, businesses, artists, and creators by simplifying the process of setting up and managing digital storefronts.
The funding round, led by Prime Venture Partners, is a testament to the potential and vision of Oyela's founders, Rahul Gope and Anjan Kumar Patel. Rahul Gope, Co-founder and CEO of Oyela, shared the inspiration behind the platform, drawing from his own entrepreneurial journey. Hailing from the Andaman Islands, he once ran an online pearl boutique but faced challenges related to discovery and operational barriers. Oyela was born from his vision to provide aspiring entrepreneurs with the tools and opportunities he wished he had during his own entrepreneurial journey.
The funding will be instrumental in Oyela's plans to enhance its platform and empower two million social stores in the next five years. The company also aims to strengthen its e-commerce tech, develop conversational commerce engines, and streamline the supply chain for entrepreneurs and creators. Oyela aspires to capture 1.6 percent of the e-commerce market and a significant 9.5 percent of the Indian social commerce market.
To learn more about Oyela's exciting journey and the recent funding, you can read the following articles :