OYO Rooms, an Indian online marketplace for budget hotels, raised $100m in venture capital funding.
The round was led by SoftBank with participation from existing investors Greenoaks Capital, Lightspeed India and Sequoia Capital.
The company intends to use the funds to continue to grow operations. It is hiring.
Led by Ritesh Agarwal, Founder and CEO, OYO Rooms operates a network of hotels spread across 80 cities with 1000+ hotels offering standardized stay experiences at a low price.
The platform is available in 80 cities across the country.