New Delhi : Online hotel aggregator OYO Thursday said it has raised $250 million (over Rs 1,600 crore) in a fresh round of funding led by its existing investors and Hero Enterprise. The company plans to use the funds to expand its presence in India and South-East Asia, OYO said. “We have raised $250 million in a fresh round of funding led by existing investors SoftBank through SoftBank Vision Fund, Sequoia India, Lightspeed Venture Partners and Greenoaks Capital. Hero Enterprise has also joined as a new investor,” OYO Founder and CEO Ritesh Agarwal told PTI.
The funds would be used to expand presence across India and in other international markets in South-East Asia.
The company is already present in Malaysia, he added. The funds will be used for “higher penetration in the markets that we are present in and to expand in the new markets, customer service, research and development, training and also on technology”, he added.
