The Masayoshi Son-led investment conglomerate SoftBank has reportedly asked OYO to get new investors, following which it will participate in a funding round of nearly $500-700 million. If the new funding comes in, it will likely catapult OYO to become 12th Unicron.
After adopting pure pay franchise model three months back, the budget hotel aggregator recently made its comeback on OTAs platforms such as MakeMyTrip and Goibibo after two years of delisting.
Following the strategic deal, MakeMyTrip is also eyeing a stake in Oyo.
Since its inception in 2013, Oyo has raised a total funding of about $442 million from investors like Softbank, Sequoia Capital, Lightspeed Venture and Hero Enterprise among others. At present, OYO claims to operate 8,500 hotels and 70,000 rooms in more than 230 cities in India.