September 25, 2018 / 7:17 AM / a month ago

Indian hotel aggregator OYO to raise $1 bln from Softbank fund, others

NEW DELHI, Sept 25 (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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