Hero Enterprise joins as a new investor along with existing investors – Softbank, Sequoia India, Lightspeed and Greenoaks Capital
OYO – India’s largest hospitality company – has raised $250 million (INR 1600 crore)* in a Series D financing round led by SoftBank through SoftBank Vision Fund with participation from existing investors Sequoia India, Lightspeed Venture Partners and Greenoaks Capital. Hero Enterprise has also joined the round as a new investor.
Speaking about the development, Ritesh Agarwal – Founder & CEO, OYO said, “In less than four years, OYO has become India’s largest hospitality company in terms of network presence and inventory.”
Justin Wilson, SoftBank’s Board representative on OYO remarked, “OYO has solidified its position in India as the leading accommodation brand for consumer affordability and high quality standards.
Sunil Kant Munjal, Chairman, Hero Enterprise, added, “As a business family, we have always set new paradigms; so OYO’s unique business model excites us.”