OYO ROOMS RAISES RS 150 CR
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India’s branded budget hotel OYO Rooms has raised Rs. 150 crore from Lightspeed, Sequoia and Greenoaks Capital. This will help the two year old company to realize its ambition of becoming the largest technology-enabled network of hotels in the world.
Announcing the fresh round of fund raise, Ritesh Agarwal, Thiel fellow, CEO of OYO Rooms said, “Our vision is to offer the ‘OYO Rooms experience’ to every business, leisure and pilgrim traveler across 100 cities through a network of 10,000 hotels. We welcome Greenoaks as a partner and are very excited to work with them. Our current investors- Lightspeed, Sequoia and DSG have been great partners in helping us build and scale the company.”
With a humble beginning from one hotel in Gurgaon in 2013, OYO Rooms has now grown to more than 200 hotels in 10 cities booking 50,000 room nights every month. OYO Rooms is well poised to aggressively expand its network to 1000 hotels in 25 cities by this year end.