OYO has acquired Mumbai-based Internet of Things (IoT) company AblePlus for an undisclosed amount. Founded by IIT Bombay graduates, AblePlus specialises in developing hospitality-focused IoT solutions.
With this deal, OYO aims to step up its tech and use technologies like artificial intelligence for managing its hotels and assets. The company’s CTO Anil Goel said in a statement that with the introduction of IoT, OYO aims to improve customer and partner experiences. AblePlus has AI solutions which record customers preferred temperature, lighting conditions, etc based on their previous usage and bookings.
The deal will now enable OYO users to do self-check-ins with digital arrival & departure register, Self KYC with Aadhar, and IoT managed smart locks. The company added in a statement that the rollout of technology-enabled operations will also ensure tracking of assets across properties. It added that in forthcoming years, OYO will introduce voice-based assistance in rooms, guest entertainment programme related to fitness, gaming etc, and automation in appliances, and other services.
OYO’s previous funding and acquisition
This is OYO’s second acquisition ever. In March this year, OYO had acquired service apartment operator Novascotia Boutique Homes to expand OYO’s offerings in India. The company currently operates in more than 160 cities across India, China, Malaysia and Nepal.
In September 2017, OYO received investments of $10 million as part of a Memorandum of Understanding (MoU) deal with Chinese multi-brand hotel group China Lodging Group Limited. The funding was a follow-up on OYO’s $250 million Series D round of funding a week before that