OYORooms Raises $100mn Led By Softbank

Oyorooms’ funding of $100mn is led by Softbank with participation from existing investors, Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital. Budget hotel player, Oyorooms expects to use this funding to increase the size of the budget hotel network to 50,000 rooms across 100 cities by the end of 2015.

Company Name : Oyorooms
Funding Amount : $100mnoyoRooms
Investor(s) Softbank, Lightspeed Venture Partners, Sequoia Capital, Greenoaks Capital
Funding Round : Series C

Oyorooms’ funding of $100mn is led by Softbank with participation from existing investors, Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital.

Launched in 2013, OYO has grown to become India’s largest branded network of hotels and is today present in more than 70 cities with 12,000 plus available rooms. For customers looking for a place to stay, OYO offers a three-tap booking app, convenient payment channels, high quality reliable experience and services, and 24X7 customer support. In India’s highly fragmented hotel industry, OYO empowers unbranded hotels to increase revenues by providing access to technology, operational best practices and a national ecosystem of vendors and sales channels.

Oyo earlier raised $25mn in March of 2015. The company was recently in controversy over a court case against its competition, Zostel Rooms.

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