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OYO flexes muscles with $250 million raise, looks beyond India

09/08/2017| 1:28:06 PM| 中文

OYO's CEO Agarwal claims that 95% of its inventory is sold direct and the company is looking to develop capabilities to add 10,000 rooms a month to its platform.

OYO Rooms, the first and now largest technology-enabled branded online accommodation aggregator in India, has picked up another $250 million in a Series D round, bringing the total raised since its 2013 launch to $450 million.

The Series D includes a new investor – Hero Enterprises. Existing backers SoftBank, Sequoia India, Lightspeed Venture Partners and Greenoaks Capital also took part.

OYO has two brands – OYO Rooms operates in the budget segment while OYO Townhouse is aimed at the mid-market. Agarwal said that business is looking to develop capabilities to add 10,000 rooms a month to its platform.

The vast majority – 95% – of its inventory is sold direct, Agarwal claims.

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TAGS: OYO Rooms | SoftBank | financing | budget hotel | hotel chain
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