MUMBAI (NewsRise) -- Indian hotel-booking startup Oyo Hotels is raising as much as $1 billion from investors led by Japan's SoftBank Group, underscoring the growing investor interest in the country's startups.
Oyo, founded by Ritesh Agarwal, a college dropout, raised $800 million in the latest round from SoftBank Investment Advisers and existing investors Lightspeed Venture Partners, Sequoia Capital, and Greenoaks Capital, the company said in a statement. It also received investment commitment for an additional $200 million, it said.
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