OYO raises $1 bn from investors led by Softbank; firm now valued at $5 bn

This e-series funding round makes OYO the most valued hospitality company in the country, ahead of Tata Group's Indian Hotels Company and EIH

Forget about the crash in the Indian equity market. Indian hospitality start-up OYO has raised a massive $1 billion (Rs 72.63 billion) from four existing investors led by SoftBank. The latest fundraising is estimated to value OYO, which operates in the budget hospitality space, at around $5 billion (Rs 363 billion), a five-fold increase since September last year, when the last funding round took place. OYO was not even a unicorn (a start-up valued at $1 billion and above) before this funding round.

This e-series funding round makes OYO the most valued hospitality company in the country, ahead of Tata