SoftBank leads $1 billion fund infusion into OYO Hotels
Sep 29, 2018
Hotel chain OYO said on Tuesday that it had raised a total of $800 million in the latest financing round led by SoftBank Investment Advisers (SBIA) through SoftBank Vision Fund, with participation from existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital.
OYO Hotels also confirmed that it had received a commitment of an additional $200 million, bringing the total to $1 billion in this round. Ritesh Agarwal, founder and CEO, OYO, said in the last 12 months, the company had increased its international footprint in India, China, Malaysia, Nepal and the U.K.