The founder of India's biggest hotel chain is pumping $2 billion into his own company, upping his stake in the business and making it India's second-most valuable startup
New Delhi The founder of India's biggest hotel chain is pumping $2 billion into his own company, upping his stake in the business and making it India's second-most valuable startup.
Ritesh Agarwal will invest $700 million into OYO as part of the company's new $1.5 billion fundraising round, with existing investors including Japan's SoftBank putting in the rest, OYO said in a statement Monday. He's also buying $1.3 billion worth of existing shares from early investors Lightspeed Venture Partners and Sequoia Capital, with support from"banks and financial partners," a spokesperson said.
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