A Singapore based Taxi company Grab is reportedly planning to invest $100 Million in Indian hospitality chain OYO rooms as a part of an ongoing $1 billion funding round.
Citing to the two people familiar with this deal, Economic Times said that “The deal is expected to close in days through A1Holdings Inc an entity controlled by Grab.”
In September, OYO rooms raised $800 Mn in funding from Softbank Vision Fund, along with its existing investors Sequoia Capital, Lightspeed India Partners, and Greenoaks Capital. The company also received $200 million as a commitment from undisclosed investors, which brought OYO rooms to $1 billion in valuation.
According to the ET, “The fresh round funding which is supposed to close soon will bring the company at $5 Billion in value.”
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