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OYO Rooms raises Rs 630 crore from Softbank, existing investors

Company has a network of 12,000 rooms in 70 cities

BS Reporter  |  Bengaluru 

Japanese business giant Softbank, which is bullish on investments in India, has led a $ 100 million (Rs 630 crore) investment in online aggregator of hotels OYO Rooms with existing investors - Greenoaks Capital, Sequoia Capital and Lightspeed India.

OYO, founded in 2013 has a network of 12,000 rooms in 70 cities, helping unbranded properties get access to customers through its online and app channel.

"OYO will use the latest round of funding to implement new customer experience initiatives, build innovative technology products, and extend its domination in this space which it has pioneered," the company said in a statement.

"We are excited to have global investors like SoftBank partner with us in this vision. Their experience in building innovative companies globally will bolster our efforts to grow into one of the world's most trusted hotel businesses," said Ritesh Agarwal, Founder and CEO of OYO Rooms said.

First Published: Tue, August 04 2015. 00:25 IST
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