Oyo Hotels set to close $1.5 billion funding round led by SoftBank

By: |
Published: November 25, 2019 12:21:39 AM

In October, Oyo had said it will raise $1.5 billion in fresh financing round of which $700 million will be invested by founder Ritesh Agarwal through RA Hospitality.

The remainder of the funds amounting to 0 million will be invested by the company’s existing investors, it said in a statement.The remainder of the funds amounting to 0 million will be invested by the company’s existing investors, it said in a statement.

Oyo Hotels & Homes seems set to close its $1.5-billion Series-F financing round led by SoftBank. According to business signals platform Paper.vc, the Gurgaon-based company has recently filed documents with RoC indicating the firm’s board approval for the same.

While SoftBank is investing $810 million through SoftBank Vision Fund India Holdings (Cayman), Ritesh Agarwal-led RA Hospitality Holdings is putting in about $693 million, according to documents sourced from Paper.vc. There is also the possibility of investment by a third-party investor, analysts at the firm said. “The fund allotment may have happened or is imminent,” said Vivek Durai, founder at Paper.vc.

In October, Oyo had said it will raise $1.5 billion in fresh financing round of which $700 million will be invested by founder Ritesh Agarwal through RA Hospitality. The remainder of the funds amounting to $800 million will be invested by the company’s existing investors, it said in a statement.

Bulk of the funding will be used to expand its business in the US. Excluding the Series-F round, Oyo has so far raised close to $1.7 billion in funding, according to data from Crunchbase. Founded in 2013, Oyo’s current portfolio combines fully operated real estate comprising more than 23,000 hotels and 46,000 vacation homes.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Next Stories
1Govt smells entrepreneurship in prisons: These many inmates may add to India’s entrepreneurial might
2If you are relying on Google search for revenue, you are in trouble, Silicon Valley VC tells businesses
3Government encourages MSMEs, startups to innovate; says patents regime simplified