MUMBAI: Hospitality major OYO Hotels & Homes' valuation has reached the USD9 billion-mark, according to industry sources. The development comes after the latest fundraise of Rs 54 crore or USD7.31 million from Hindustan Media Ventures Ltd. In a regulatory filing with the Ministry of Corporate Affairs, OYO said that it has raised Rs 54 crore (USD7.31 million) at a share price of USD58,490 as part of its Series F1 round. With over 50 products and more than 500 microservices, the company plans to utilise the capital in strengthening its technology stack for delivering an improved partner and customer experience.

Hindustan Media Ventures subscribed to OYO's Series F1 Compulsory Convertible Cumulative Preference Shares (Series F1 CCCPS) for cash at an issue price of Rs 43.20 lakh per Series F1 CCCPS for an aggregate consideration equivalent to Rs 54 crore to Hindustan Media Ventures Limited on a private placement basis.

The growth in valuation comes after it dropped to USD8 billion last year from USD10 billion in November 2019. OYO Hotels & Homes is also backed by investors including the SoftBank Vision Fund, Sequoia Capital, Lightspeed Ventures, Airbnb, and Hero Enterprise, amongst others. In October 2019, OYO announced that it had raised USD1.5 billion, as part of its Series-F funding round. As a part of this round, RA Hospitality Holdings' infused approx USD700 million as primary capital in the company, with the balance of USD800 million being supplemented by other existing investors.

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