Hotel aggregator Oyo raises $250 million from SoftBank fund, others

Indian hotel aggregator Oyo said on Thursday it has raised $250 million from new and existing investors in a fresh round of funding led by Japanese conglomerate SoftBank’s Vision Fund.

By :  migrator
Update: 2017-09-07 15:57 GMT
Representative image

Mumbai

Oyo will use the funds to expand its business in international markets, the company said in a statement. Founded in 2013, Oyo currently operates in 230 Indian cities, Malaysia and Nepal.

Existing investors Sequoia India, Lightspeed Venture Partners and Greenoks Capital participated in the funding round, while Hero Enterprise joined as a new investor.

The SoftBank Vision Fund, the world’s largest private equity fund, said last month it will invest in India’s top homegrown e-commerce firm Flipkart, becoming one of its top shareholders.

Visit news.dtnext.in to explore our interactive epaper!

Download the DT Next app for more exciting features!

Click here for iOS

Click here for Android

Similar News