Oyo Rooms, an Indian hospitality startup which has the largest network of hotels has raised $100 million in its fifth round of funding. Soft Bank has emerged as being the biggest contributor. Apart from Soft Bank, Sequoia Capital, Lightspeed Venture Partners, Greenoaks Capital, DSG Consumer Partners and Venture Nursery have also invested in Oyo Rooms.
Reportedly, Oyo rooms is looking to use this money to expand its domestic business operations.
At present, online hotel booking market is at a very nascent stage and hotel business is worth $20-25 billion, with Oyo Rooms clearly emerging as the market leader.
Oyo Rooms has recently acquired Zo Rooms and has also started business operations in Malaysia.
Oyo Rooms has huge scope in the domestic market as they concentrate on budget hotels which has major chunk of hotel business at present. Currently they are present in 177 cities with more than 5000 hotels.