Ritesh Aggarwal Led Oyo Rooms Raised $100 million Funding
At a time when startups and companies facing economy jolt, Oyo rooms led by Ritesh Aggarwal has raised $100 million in its fifth round of funding.
The investors, including Japan’s Softbank, and an international sovereign fund, a person with knowledge of the deal said. Other investors are Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital, DSG Consumer Partners and Venture Nursery also participated.
In the three years since it was founded, Oyo has emerged as the largest aggregator of hotel rooms in India. It has 65,000 rooms in 5,500 hotels across 177 cities. The company has already raised a total of $125.65 million in four rounds earlier. It recently acquired rival Zo Rooms, which made almost similar revenue, and was funded by Tiger Global.
The business of hotel aggre...