The Indian Wire » Startups » Oyo to raise $1.5 billion in series F funding from RA Hospitality Holdings, other investors
Startups

Oyo to raise $1.5 billion in series F funding from RA Hospitality Holdings, other investors

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OYO Hotels and Homes, a hospitality chain and unicorn startup, based out of Gurugram, will raise $1.5 billion (approx INR 10,650 crore) as part of its series F funding round, Livemint reported.

As a part of the round, RA Hospitality Holdings will put nearly $700 million as primary capital in Oyo, with the balance $800 million being supplemented by other existing investors.

Oyo, India’s celebrated hospitality platform will be using the funds towards continued growth in the US, and in strengthening the company’s position in the vacation rentals business in Europe.

“I am also happy to share that on a Y-O-Y basis, we have seen that not only are we operating profitably at the building level but at the same time our EBITDA has also improved by 50% (on a Y-o-Y basis),” said Ritesh Agarwal, founder and CEO (Global), OYO Hotels & Homes.

The SoftBank backed hospitality chain Oyo was started by Ritesh Agarwal in 2013. The startup was started from a single hotel to over 8500 hotels at present. It is the fastest growing network of hotels, offline and online.

Earlier in September this year, Oyo announced that the hospitality chain was stepping into the four-star hotels segment in India with the purchase of a 64-suite building in Ahmedabad for an disclosed amount.

For details: Oyo forays into premium segment with four-star hotels in India

Besides Oyo, other strong players in the hospitality startup include YatraFabhotels,TreeboMakeMyTripClearTrip, and among others.

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