Oyo Raises $175 Million in Latest Funding Round, Valuation Sinks to $2.4 Billion
Skift Take
Oyo’s significantly reduced valuation could imply a delay in IPO plans until market conditions and investor confidence improve.
Hospitality company Oyo, once a beacon of India's startup ecosystem, has seen its valuation drop from a peak of $10 billion in 2019 to $2.4 billion in its latest funding round.
The hospitality company raised INR 14.5 billion (approximately $175 million) in a down round, primarily led by Patient Capital, a Singapore-based entity established by Oyo's founder and CEO, Ritesh Agarwal. Other participants included J&A Partners and ASK Financial Holdings.
Patient Capital contributed the lion's share of the funds, investing INR 8.3 billion ($100 million), followed by J&A Partners with
