September 7, 2017 / 12:41 PM / 10 months ago

Indian hotel aggregator Oyo raises $250 mln from SoftBank fund, others

MUMBAI, Sept 7 (Reuters) - Indian hotel aggregator Oyo said on Thursday it has raised $250 million from new and existing investors in a fresh round of funding led by Japanese conglomerate SoftBank’s Vision Fund.

Oyo will use the funds to expand its business in international markets, the company said in a statement. Founded in 2013, Oyo currently operates in 230 Indian cities, Malaysia and Nepal.

Existing investors Sequoia India, Lightspeed Venture Partners and Greenoks Capital participated in the funding round, while Hero Enterprise joined as a new investor.

The SoftBank Vision Fund, the world’s largest private equity fund, said last month it will invest in India’s top homegrown e-commerce firm Flipkart, becoming one of its top shareholders. (Reporting by Sankalp Phartiyal; Editing by Subhranshu Sahu)

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