SoftBank Vision Fund has contributed to an initial $800m tranche, with more than half of the round allocated to Oyo's expansion across China.
India-based short-term accommodation provider Oyo Rooms is raising $1bn in funding from investors including SoftBank Vision Fund, which is managed by telecommunications conglomerate SoftBank, Bloomberg reported today.
Vision Fund joined venture capital firms Sequoia Capital and Lightspeed Venture Partners for an initial $800m tranche and Oyo has secured commitments for the remaining $200m, people familiar with the matter told Bloomberg. The round values the company at $5bn.
Founded in 2013, Oyo partners existing hotels and rebrands rooms to offer a…
