In a remarkable tale of resilience and perseverance, Ruchi Kalra, an IITian with an indomitable spirit, defied the odds and emerged as a pioneer in the Indian business landscape. Despite facing rejection 73 times in her entrepreneurial journey, Kalra went on to build not one but two unicorn companies, with a combined valuation of Rs 52,000 crore. Her journey from rejection to success is a testament to the power of grit, determination, and unwavering belief in one’s abilities.
Ruchi Kalra’s journey to success began with her academic excellence, having completed her B.Tech from the prestigious IIT Delhi, followed by an MBA from the Indian School of Business. Armed with a strong educational foundation, she embarked on a career path that would eventually lead her to the pinnacle of entrepreneurship.
After gaining valuable experience as a partner at McKinsey for over eight years, Kalra decided to take the plunge into entrepreneurship. In 2015, she co-founded OfBusiness, a B2B platform specializing in the sale of raw materials and industrial supplies. Despite facing numerous challenges and setbacks in the initial stages, including rejection from investors and skepticism from industry peers, Kalra remained undeterred in her pursuit of success.
Through sheer determination and strategic vision, Kalra steered OfBusiness to unprecedented heights, achieving a valuation of Rs 44,000 crore and cementing its status as one of India’s leading unicorn companies. With a focus on profitability and innovation, Kalra revolutionized the B2B e-commerce landscape, empowering businesses with access to high-quality raw materials and seamless transactional experiences.
However, Kalra’s entrepreneurial journey did not end with the success of OfBusiness. In 2017, she founded Oxyzo Financial Services, the lending arm of OfBusiness, with her husband Mohapatra. Oxyzo Financial Services quickly emerged as a disruptor in the fintech space, providing financial solutions to small and medium-sized enterprises (SMEs) across India.
Under Kalra’s leadership, Oxyzo Financial Services secured a landmark funding round of $200 million at a valuation of $1 billion (Rs 8,200 crore), making it India’s first couple-led unicorn company. Through innovative lending products and a customer-centric approach, Oxyzo Financial Services has empowered SMEs to access capital and fuel their growth aspirations, further solidifying Kalra’s reputation as a visionary entrepreneur.
Central to Kalra’s business strategy is a relentless focus on profitability and value creation. She believes in extracting profit from every transaction, ensuring sustainable growth and long-term success for her ventures. Kalra’s commitment to delivering tangible results and driving positive impact has earned her widespread acclaim and recognition within the Indian startup ecosystem.
Beyond her entrepreneurial endeavors, Kalra remains committed to fostering innovation and entrepreneurship in India. She serves as a role model and mentor to aspiring entrepreneurs, inspiring them to dream big, persevere in the face of adversity, and seize opportunities for growth and success.
In conclusion, Ruchi Kalra’s journey from rejection to building two unicorn companies worth Rs 52,000 crore is a testament to the transformative power of resilience, determination, and relentless pursuit of excellence. Her remarkable achievements serve as a beacon of hope for aspiring entrepreneurs, illustrating that with unwavering dedication and belief in one’s capabilities, anything is possible in the world of business and beyond.
