Oyo raises $7.4m in a fresh round of funding led by Hindustan Media Ventures. Credit: Shalika Malintha.

Indian hospitality start-up chain Oyo Hotels & Homes has raised ₹540m ($7.4m) in a Series F1 funding round.

The latest funding round was led by Hindustan Media Ventures, reported the Press Trust of India (PTI).

According to a regulatory filing, Hindustan Media Ventures subscribed to Oyo’s 125 Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS).

Oyo operates more than 18,000 franchised and leased hotels and over 10,000 homes and villas, in countries including India, China, Malaysia, the UK, the UAE, Indonesia and more.

The company investors include, SoftBank, Singaporean ride-hailing company Grab, home-rental start-up Airbnb, Lightspeed Venture Partners, Sequoia Capital and Greenoaks Capital.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In a separate development, Oyo announced that it has launched Equal Partner Policy (EPP), an initiative to boost trust and enhance transparency in the asset owner community.

Oyo India & South Asia chief executive officer Rohit Kapoor said: “We’re excited to take our relationship with our asset owner community to the next level with the launch of the second edition of Club Red under our Equal Partner Policy.

“The programme is customised to our asset owners’ needs and takes into account the uniqueness each partner brings.

“Our owners are the backbone of our business and we are confident that we will continue delivering value to them with complete dedication as we drive Oyo’s resurgence in 2021, which will also fuel the recovery of the hospitality industry.”