From 73 Rejections To Rs 52,000 Crore: This Couple Became India’s First To Build Two Unicorns

Ruchi Kalra and her husband Asish Mohapatra are India’s most successful start-up founders. Together, they co-founded two unicorn companies, achieving a rare feat in the business world.

Ruchi pursued B-Tech from IIT Delhi and later completed her MBA from the Indian School of Business. She spent over eight years at McKinsey, where she honed her business acumen.

In 2015, Ruchi and Asish launched OfBusiness, a B2B platform that sells raw materials and industrial supplies. Today, it has a valuation of Rs 44,000 crore, making it one of India’s leading unicorns.

In 2017, they established Oxyzo Financial Services, the lending arm of OfBusiness, which supports buyers on their platform. Oxyzo raised $200 million, reaching a valuation of Rs 8,200 crore.

OfBusiness saw its revenue soar from Rs 197.53 crore in 2021 to Rs 312.97 crore in 2022. The couple’s strategic mindset and dedication have driven consistent growth and profitability.

Despite facing 73 rejections from investors initially, Ruchi and Asish persevered. They believed in their vision and needed just one investor to back them, proving that persistence pays off.

Their combined efforts led to two unicorns valued at Rs 52,000 crore. Ruchi’s personal net worth was around Rs 2,600 crore in 2022, cementing their status as a powerhouse in the startup ecosystem.