The fresh fundraising by the hospitality start-up came at a time when it is slowly recovering from the impact of coronavirus pandemic.
Last month, the company had laid off 300 employees, mainly from renovation and operations departments.
In September last year, Oyo, which has investors like SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Airbnb and Hero Enterprise, is reported to have liquidity of about USD 1 billion in cash and cash equivalent that gives it the room to navigate the business through the unprecedented times.
Operating on an asset-light chain of hotels and vacation homes, Oyo has over 43,000 hotels and 1.5 lakh homes around the world in its network. The company operates in over 800 cities in 80 countries, including the US, Europe, UK, India, Middle East, Southeast Asia, and Japan.
Hindustan Media Ventures is 74.4 per cent owned by HT Media Ltd that publishes newspapers, including the Hindustan Times.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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