India: Oyo raises $1b from SoftBank, Sequoia, others for global expansion

India: Oyo raises $1b from SoftBank, Sequoia, others for global expansion

Ritesh Agarwal. Photographer: Samyukta Lakshmi/Bloomberg

India’s homegrown startup Oyo, which operates a network of budget hotels, on Tuesday said it is raising $1 billion from existing investors including Japan’s SoftBank Group and others as it aggressively looks to expand in India and China, and foray into new territories.

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