OYO funding | Pixr8 News

8Oct By NitishNo Comments

FUNDING

OYO to Raise $1.5 bn Funding; for Expansion in US

Indian online hotel booking startup OYO Hotels and Homes set to raise $1.5 billion (nearly Rs 10,650 crore), from its founder, Softbank and other investors. The funding will use to expand for expansion in the US and strengthening its vacation rentals business in Europe. Softbank, has invested nearly $1 billion in OYO, through its Vision Fund and owns roughly 45 percent stake in it. The latest round of funding will be a part of Series-F funding round. OYO Hotels and Homes Founder and CEO Ritesh Agarwal, through RA Hospitality Holdings, will infuse approximately $700 million as primary capital in the company. The balance $800 million will be supplemented by other existing investors, according to the company statement. A significant part of the funds will be diverted towards co...

1Apr By reutersNo Comments

FUNDING

Airbnb invests in OYO’s series E funding round

Home-renting company Airbnb has invested in Indian hotel reservation start-up OYO's series E funding round, as it dives deeper into the hotel-booking business. Airbnb did not disclose the details of its investment in OYO, however, as per sources, the round is close to between $100-$200 million. It expects revenue to more than treble every year over the next five years, as it expands locally and in international markets, a senior company executive told Reuters earlier this year."Airbnb's strong global footprints and access to local communities will open up new opportunities for OYO Hotels & Homes..." said Maninder Gulati, global chief strategy officer at OYO Hotels & Home. U.S.-based Airbnb will look at ways to make the OYO accommodation available on its platform, the co...

Indian Hotel Chain Oyo Raises $1 billion at $5 billion Valuation

25Sep By Gauri SinghNo Comments

FUNDING

Indian Hotel Chain Oyo Raises $1 billion at $5 billion Valuation

Indian hospitality chain Oyo Hotels which is soaring high with success these days has planned to secured funds amounting to $1 billion for the purpose of expansion into China and other global regions. This round is expected to be led by existing investors including SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners. The existing investors have currently put in $800 million, with commitments for another $200 million. About $600 million of the total will be deployed into China where Oyo had forayed just 10 months back. “With this additional funding, we plan to rapidly scale our business in these countries, while continuing to invest further in technology and talent,” Agarwal stated. “We will also deploy fresh capital to take our unique model that enables small hotel ow...

OYO Eyeing Funds from Tencent, May Raise the Valuation to $2 Billion

26Jul By Gauri SinghNo Comments

FUNDING

OYO Eyeing Funds from Tencent, May Raise the Valuation to $2 Billion

Tencent, one of the leading internet players of China is eyeing to lead a fresh funding round and back hotel chain OYO with $300-500 million. According to the reports, this particular funding round will likely value the company at $2 billion which is almost double the valuation of $850 million from SoftBank's Vision Fund. "The company is engaged with Tencent, and a term sheet is likely There’s a bunch of other investors also in talks, but those are preliminary at the moment. The fundraise is largely to grow the China business," a person familiar to the matter said. Apart from Tencent, the Gurugram-based hotel chain has also talked with other Chinese companies and a few financial investors to participate in the funding round. If the funding is confirmed, it will be the first-ever fu...