Budget hotel booking platform Oyo Rooms plans to raise $61m from existing investors, which include SoftBank, at a $460m valuation.
Oyo Rooms, an India-based budget hotel booking platform backed by telecommunications and internet group SoftBank, is set to raise Rs 4.1bn ($61.3m) in new funding from existing shareholders, the Economic Times reported today.
The round will value Oyo at about $460m, according to a regulatory filing, and Oyo also intends to buy back about $9m of shares from an unnamed shareholder ET believes could well be accelerator VentureNursery.
Launched in early 2013 with one hotel, Oyo runs an online platform…
