OYO Secures INR 1,457 Cr in Series G Funding Round The Series G round had an initial raise of INR 416.85 crore, followed by the additional INR 1,040 crore, concluding the round with substantial backing.
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Hospitality provider OYO has announced that it raised INR 1,457 crore (nearly USD 175 million) in a Series G funding round, closing out the round with a substantial boost from several high-profile investors.
The funding effort was spearheaded by Patient Capital, which invested INR 830 crore (USD 100 million), while J&A Partners and ASK Financial Holdings contributed INR 120 crore (USD 14 million) and INR 14 crore (USD 1.65 million), respectively. Serial investor Ashish Kacholia also participated through InCred Wealth.
The Series G round had an initial raise of INR 416.85 crore, followed by the additional INR 1,040 crore, concluding the round with substantial backing.
The new capital infusion will be pivotal for OYO as it gears up for significant global expansion and bolsters its growth strategy.
The appointment of Sumer Juneja, Managing Partner and Head of EMEA and India at SoftBank Investment Advisors, as a Non-Executive Director on Oravel's Board was also put up in the EGM and approved with 99.99% of the votes.
Sumer will join Oravel's board as a nominee by Softbank Vision Fund.
OYO, headquartered in Gurugram, has faced challenges in its IPO plans, previously withdrawing its draft papers in May due to adverse market conditions. The company had announced its intention to refile its IPO papers following the completion of a significant funding round.
