OYO Rooms has announced that it has raised US$100 million, led by the SoftBank Group, with participation from existing investors – Greenoaks Capital, Sequoia Capital and Lightspeed India. 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.
Ritesh Agarwal, Founder and CEO, OYO Rooms said, “We are at the forefront of solving a problem of lack of predictability of experience across hotels in the country. Our vision is to provide a standardized experience – the OYO experience, to anyone, anywhere looking for a place to stay when not at home. 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.”
