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China’s Didi Chuxing invests $100 million in Oyo – Moneycontrol.com

China’s Didi Chuxing invests $100 million in Oyo – Moneycontrol.com

Final Up to date : Feb 14, 2019 02:32 PM IST | Supply: Moneycontrol.com

Oyo final raised $800 million in a financing spherical led by SoftBank Funding Advisers (SBIA) with participation from Lightspeed Enterprise Companions, Sequoia and Greenoaks Capital in September.

 Moneycontrol Information 

Softbank-backed hospitality firm Oyo has raised $100 million from Star Advantage Funding, an entity managed by the Chinese language cab-hailing big Didi Chuxing, in response to paperwork filed with the Registrar of Firms (ROC) and sourced from information intelligence agency PaperVC.

The funding occurred on January 22 and is supposed to be part of the $1 billion spherical that Oyo introduced in September.

Moneycontrol reported in November that Oyo was in talks to lift cash from Didi Chuxing.

Apparently, Softbank can be an present investor in Didi Chuxing.

Oyo final raised $800 million in a financing spherical led by SoftBank Funding Advisers (SBIA) with participation from Lightspeed Enterprise Companions, Sequoia and Greenoaks Capital in September.

At the same time as the corporate is increasing abroad, it plans to aggressively concentrate on two core markets, India and China.

The Gurugram-based hospitality agency does enterprise on a franchisee mannequin, underneath which it provides clients rooms from unique properties which have both been leased by Oyo, or are run on a revenue-share foundation.

It runs a number of properties throughout classes together with financial system, mid-scale, and higher mid-scale properties. It lately entered into luxurious resort vary underneath the model identify Palette.

Apart from accommodations, the corporate has additionally entered into the rental house. Final yr, it introduced the launch of Oyo Residing underneath which it is going to supply buyer long-term housing leases beginning at Rs 7,999.

First Revealed on Feb 14, 2019 02:28 pm

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