Hotel aggregator OYO to raise $1 billion from Softbank fund, others

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Reuters NEW DELHI
Last Updated : Sep 25 2018 | 12:55 PM IST

By Aditi Shah

NEW DELHI (Reuters) - Hotel aggregator OYO said on Tuesday it would raise $1 billion from existing investors including Japan's SoftBank Group to grow its business in India and China, and expand into new international markets.

In the latest funding round, which would value OYO at about $5 billion, it has already raised $800 million from investors led by SoftBank's Vision Fund and including Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital.

The investors have committed to invest an additional $200 million, OYO said in a statement.

(Reporting by Aditi Shah; Editing by Gopakumar Warrier)

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First Published: Sep 25 2018 | 12:49 PM IST

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