Existing backer SoftBank reportedly invested the money at a $460m valuation, taking the budget hotel room aggregator's overall funding to almost $190m.
Telecommunications and internet group SoftBank has invested Rs 4.13bn ($62m) in India-based budget accommodation platform Oyo, LiveMint reported yesterday, citing a regulatory filing.
Oyo launched its service in 2013, and operates an online platform that enables users to book branded rooms in budget hotels with which it partners. It has more than 8,500 partner hotels in 170 Indian cities, equating to more than 68,000 rooms.
The company is looking to grow its offering by taking the entire inventory of selected…
