OYO Rooms, a leading hotel chain, has raised about ₹5,760 crore ($800 million) in a funding round led by SoftBank Investment Advisers through the SoftNank Vision Fund.
Existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital participated in the round. OYO has also received a commitment of another ₹1,440 crore ($200 million), bringing the total fund raise in this round to ₹7,200 crore ($1 billion). This round values OYO at $5 billion.
In the last one year, OYO has started operations in China, Malaysia, Nepal and the UK.
With this funding round, the company plans to scale its operations in these countries, and invest in technology and talent.
In India, OYO has over 1.25 lakh rooms. In China, it has a presence in 171 cities with over 87,000 rooms. It will use a bulk of the money raised, nearly $600 million, to strengthen its position in China.