Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Fresh Round: Oyo to Raise $1 Billion in Funding

Fresh Round: Oyo to Raise $1 Billion in Funding

Oyo Hotels & Homes, India’s largest hospitality company, is likely to hit the valuation of $10-billion as it looks for a fresh round of financing. This will make the seven-year-old startup one of the most valuable new-economy ventures from India, according to a report appeared in The Economic Times on Tuesday.

The Gurgaon-based company plans to raise about $1 billion in fresh capital from SoftBank and other two new investors, the report said.

“They are looking at a valuation of around $10 billion for the new round, for which they will hit the road next quarter,” said one of the sources who was quoted by ET. “The company is looking at a new lead investor and there is high interest from both financial and strategic investors.”

However, an Oyo spokesperson refuted the claim that the company is raising any funds, currently.

“This is speculation. Oyo Hotels & Homes has a very healthy balance sheet and we are not in talks with any investors. We don’t have any further comments,” said an Oyo spokesperson in response to an emailed query from TOI.

SoftBank holds a little over 46 percent stake in the company at the moment that includes the fresh funding. It’s interesting to note that the expected bump in the valuation comes at a time when the hospitality company has vastly expanded into international markets, especially China and Europe. With this, Oyo becomes the sixth largest hotel chain in the world.

Oyo was established by a then-teenager Ritesh Agarwal (now 25) in 2012.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...