OYO Hotels and Homes is in now talk for a fresh funding round of funding, which is also likely to see the seven-year old startup valuation hit around $10 Billion valuations. This will make it one of the most valuable new economy venture from the country, according to the report which has been revealed.
The Gurgaon based company which is founded by a Ritesh Agarwal in the year 2012, which is also in now talks to raise around $1 Billion in the fresh capital, for which it is in discussions with both the existing and new investors like the Softbank.
“They are looking at a valuation of around $10 billion for the new round, for which they will hit the road next quarter,” said one of the sources mentioned earlier. “The company is looking at a new lead investor, and there is high interest from both financial and strategic investors.”
Softbank which has also led the last four funding round for the OYO since 2015, that even holds a little around 46% stake in the company right now after investing around $1 Billion.
“This is speculation. Oyo Hotels & Homes has a very healthy balance sheet, and we are not in talks with any investors. We don’t have any further comments,” according to the report.