In brief: Grab said to be in talks to invest $100m in Oyo

Singapore ride-hailing company Grab is in advanced discussions to invest US$100 million (Rs 697.7 crore) in Oyo Hotels & Homes as part of the Indian hospitality chain’s ongoing US$1 billion funding round.

Grab, which acquired rival Uber’s Southeast Asian business in March, is expected to close the deal over the next few days, according to two people briefed on the matter.

Source: ETtech

Last year, Oyo entered the Indonesian market, where Grab has also been increasingly present as it battles with homegrown player Go-Jek. In August this year, Grab said its venture arm Grab Ventures would invest US$250 million in Indonesian startups, including those in sectors like mobility, food, and “other online-to-offline challenges.”

News of this possible investment comes just days after Go-Jek announced its entry in Singapore.