The highly anticipated fifth season of Shark Tank India is set to premiere on January 5, bringing back seasoned investor and OYO Rooms CEO Ritesh Agarwal for his third year on the panel. In a recent exclusive interview, Agarwal not only discussed his refined approach to picking startups this season but also shared a remarkable anecdote from his own entrepreneurial beginnings, where his first investors had an unusual condition for funding.
The Unusual Funding Condition: A Pledge Against College
Recalling his first fundraising experience at the tender age of 17, Ritesh Agarwal revealed a startling demand from his potential backers. "When I was raising my first funding, I was 17-years-old, and the investors said they wanted to meet my parents," Agarwal shared. "They said, if they send you to college, then... they wanted my parents to commit that they won't send me to college, warna unke paise doob jaaenge (else they would lose their money)."
The investors were convinced of the young Agarwal's potential, even telling his father, "Aap nahi jaante aapka beta itna bright hai (You don't know how bright your son is)." This pivotal moment led Agarwal to forgo a traditional college education, a decision he has reflected on publicly. In a 2023 social media post, he admitted to missing the formal college experience, calling it "unmatched" for preparing one for the real world, though he found a similar path through the Thiel Fellowship.
Evolving as a Shark: A Nuanced Investment Philosophy
As he returns for Shark Tank India Season 5, Agarwal's criteria for investment have become more focused. "All this while I have learnt about which companies and founders work for me," he stated. "I saw that entrepreneurs who have a long-term hunger and a sense of resourcefulness, those entrepreneurs have worked very well for me."
He emphasized a shift in his judging style, moving from broader comments to a deeper, more detailed analysis of each business. Agarwal also made it clear that he will not invest in entrepreneurs who take shortcuts, underscoring his belief in sustainable and principled business building.
From Odisha to OYO: The Journey of a Relentless Founder
Ritesh Agarwal's journey began in Odisha, fueled by a love for travel. The idea for OYO struck him during a getaway before he was to begin engineering preparations. Starting at just 18 years old, he faced immense skepticism. "People did not take me seriously at first," he recalled in a 2024 interview.
His persistence paid off. Beginning with one hotel in Gurgaon in June 2013 that had 20% occupancy, OYO transformed it to 80-90% occupancy within months. Today, OYO serves over 17,000 hotels and 1,50,000 homes. Agarwal credits his success to consistency and resilience, noting that "slowly, more critics started becoming believers."
Values Over Validation: A Father's Lasting Influence
The Shark Tank India judge fondly remembered his father's response to the investors' unusual demand. "I remember my dad telling them, 'I get very worried that I have tried to make sure that I give him the right value system. I don't want success to go to his head,'" Agarwal recounted. This emphasis on humility and groundedness left a deep impression on the young entrepreneur. "I remember (that comment) very distinctly because that mattered to me. I thought I would not let him down," he added.
Agarwal also shared his nuanced perspective on education, clarifying that while he values education immensely, he distinguishes it from formal university attendance. "University is just a way of education; you can get education from there, from a growth school, or even from watching some of the Shark Tank episodes," he remarked, advocating for a more flexible and challenged format of higher education.
Shark Tank India Season 5 will air on Sony TV and stream on Sony LIV, every Monday to Friday at 8 PM, promising more insights into the minds of India's top investors and the next generation of groundbreaking entrepreneurs.
