CosmicTaco

Oyo Valuation Plummets Over 75% in New Funding Round

CosmicTaco · 2024-08-12T08:54:04.656369+05:30

- Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round. - The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners. - Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion. - SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed. - The new funding comes after Oyo withdrew its IPO application for the second time earlier this year. - India’s market regulator, SEBI, has never approved the startup’s application for an IPO. Source: [Techcrunch](https://techcrunch.com/2024/08/11/oyo-valuation-crashes-over-75-in-new-funding/)

Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round.
The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners.
Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion.
SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed.
The new funding comes after Oyo withdrew its IPO application for the second time earlier this year.
India’s market regulator, SEBI, has never approved the startup’s application for an IPO.

Source: Techcrunch