Oyo, a leading company in the hospitality industry, has successfully secured Rs 1,457 crore (about $175 million) in a Series G funding round.
The investment comes from a consortium of investors, which includes InCred Wealth, Patient Capital, J&A Partners, the family office of Mankind Pharma founders, and ASK Financial Holdings.
Patient Capital has made an investment of Rs 830 crore ($100 million), while J&A Partners and ASK Financial Holdings have invested Rs 120 crore ($14 million) and Rs 14 crore ($1.65 million) correspondingly. Ashish Kacholia, a serial investor, has made investments via InCred as well.
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Oyo has previously stated that it will utilize the funds for purposes like as expanding its operations worldwide, including through acquisitions, and improving its business strategies.
In May, the creator of Oyo, Ritesh Agarwal, said that the company achieved its first-ever annual net profit of Rs 100 crore in the fiscal year 2024. In the fiscal year 2023, the company experienced a 14.3% increase in its revenue from operations, reaching Rs 5,464 crore compared to Rs 4,871 crore in the fiscal year 2022.
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