OYO is a hospitality company that offers an app allowing travelers to easily search for, book, and manage their accommodations. OYO's tech-driven strategy also extends to its hotel partners, who benefit from streamlined operations and management tools provided by the company. In addition to standardizing budget accommodations, the company has introduced premium and luxury segments, serviced apartments, and even vacation homes. By doing so, OYO has successfully catered to a wider range of travelers, offering them a variety of options to suit their preferences and budgets.
OYO has raised $65 million in funding from Redsprig Innovation Partners, increasing its valuation to $3.79 billion — a 59.2% increase from its previous Series G valuation of $2.38 billion. The fresh funding will support global expansion, bolster acquisition plans, and refine strategic initiatives.
OYO, Gurgaon, Haryana, India, was founded in 2012 by Ritesh Agarwal. In 2018, the company joined the unicorn club. OYO operates across diverse markets worldwide, including India, Southeast Asia, China, Europe, and North America, catering to both leisure and business travelers. The company continues to leverage technology to simplify the travel accommodation experience, consistently setting new standards for quality and convenience. OYO's recent strategies highlight its dedication to enhancing its financial stability and expanding its global presence, setting the stage for a future IPO.
Share this post