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Oyo founder seeks new investment at $3.8B valuation

TechCrunch · 6m

Ritesh Agarwal, founder of Oyo, has proposed injecting $65.1 million into the Indian hospitality startup through Redsprig Innovation Partners. This investment would value Oyo at $3.8 billion, a 38% premium to its previous valuation of $2.3 billion. Oyo has previously raised over $3.4 billion in equity and debt. It remains unclear if Agarwal has settled a $2 billion loan taken in 2019. Oyo is also reportedly preparing to file for an initial public offering for the third time within two months.