SoftBank Vision Fund, Hero Enterprise, Others Bet $250 Mn In Budget Hotel Aggregator OYO
Budget hotel booking marketplace OYO has raised $250 Mn in a Series D funding round led by SoftBank through SoftBank Vision Fund.
The budget hotel aggregator in FY 2016-17 has, till date, incurred losses of about $50.6 Mn. In April 2017, it was reported that SoftBank is in talks to invest about $250 Mn in OYO Rooms, at a valuation of around $850 Mn. Startups like Wudstay Hotels, FabHotels, Treebo Hotels and GoStays also operate in the budget hotel booking space like OYO.