In brief: Oyo Rooms books $1b from Sequoia, Softbank, and others

Hotel chain Oyo Rooms has raised US$800 million in fresh funds led by SoftBank Vision Fund.

It has also received a commitment largely from the Japanese investor to further raise US$200 million, the company said.

Source: Livemint

Greenoaks Capital and Lightspeed Venture Partners also joined the round.

Estimates put Oyo’s post-money valuation at as much as US$4 billion. The Indian online hotel brand expanded into the Chinese market earlier this year, adding seven properties in Shenzhen. It has also launched in Malaysia, Nepal, and the UK within the past 12 months.