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Oyo raises $800M to invest in China ops and expansion

Oyo has raised $800 million in a funding round led by SoftBank Vision Fund, with participation from existing investors Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital. It has received a commitment of an additional $200 million, summing up the final investment to $1 billion. However, it is unclear as to when the additional $200 million will be issued. Oyo will invest a significant part of the newly raised funds — approximately $600 million — into its China operations. It will also deploy the capital in existing markets, expand into new international markets and recruit new talent. Internationally, Oyo operates in China, Malaysia, Nepal and began operations in London this month. The company claims to have over 10,000 hotels in over 350 cities globally. The homegrown company also claims to have over 1,25,000 rooms in India and over 87,000 rooms in China. Oyo is adding 40,000-45,000 rooms…

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