Oyo Hotels to raise another $1 billion in funding, valuation to touch $10 billion
India’s Oyo Hotels are raising a massive funding of $1 billion from old and new investor, Indian media reported.
This massive funding could see the company’s valuation hit the $10-billion mark.
Speaking to the Economic Times, a source said: “They are looking at a valuation of around $10 billion for the new round, for which they will hit the road next quarter. The company is looking at a new lead investor and there is high interest from both financial and strategic investors.”
This funding comes at a time when Oyo has expanded globally into China and Europe, making it the sixth largest hotel chain in the world.
A few months prior to this, AirBnb invested around $100-200 million in the Soft Bank-backed company.