Grab invests $100M into India’s OYO to expand its budget hotel service in Southeast Asia

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Southeast Asian ride-hailing firm Grab has made its most ambitious investment to date after it backed India-headquartered budget hotel network OYO to the tune of $100 million. The investment was part of a $1 billion Series E round led by SoftBank’s Vision Fund that closed back in September.

The deal was first made public via a regulatory filing in India, as Economic Times reported.

“We can confirm the investment into OYO,” a Grab spokesperson told TechCrunch.

Grab has done a handful of strategic deals thus far, including investments in bike-sharing startup oBike and grocery delivery service HappyFresh, but those have been far smaller and local to Southeast Asia. Its highest acquisition to date is around $100 million for Indonesia-based offline payment

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Read full article » https://techcrunch.com/2018/12/07/grab-invests-100m-in-indias-oyo/


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