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Oyo Gets $100 Million From China’s Ride-Hailing Giant Didi Chuxing

Gurgaon-headquartered hospitality company Oyo has raised $100 million from Star Virtue Investment. An entity controlled by the Chinese cab-hailing giant Didi Chuxing, according to the report.

The funding took place on 22nd January. It is meant to be a part of the $1 billion round that Oyo raised in September. In the same month, IndiaWeb2.com reported that Oyo was in talks to raise money from Didi Chuxing at a possible valuation of $2 billion.

Notably, Softbank is a common investor in both Didi Chuxing as well as Oyo.

Image Source: Google

Oyo previously secured $800 million in a funding round. That was led by SoftBank Investment Advisers (SBIA) with participation from Greenoaks Capital, Lightspeed Venture Partners, Sequoia in September.

Even as the company which is as of now is expanding overseas, it plans to aggressively focus on two core markets, India and China.

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