INFOGRAPHIC: Top Asian Startup Funding — Week 33
These are the funding deals we tracked in the Asian region this week – including Oyo, DevRev, Ather Energy, Neo, and Syfe.
- Hospitality Giant Oyo Raises $175 Mn in Series G Round, eyes IPO Again
- CRM Software Firm DevRev Joins Unicorn Club with $100.8M Series A Round
- Ather Energy Joins Unicorn Club with $71 Million Investment from NIIF
- Neo Raises $48M in Series B Funding to Expand Wealth Management Services
- Digital Wealth Manager Syfe Raises $27 Million to Expand in Key Markets
Oyo raises $175 Mn in Series G round, eyes IPO again
Indian Hospitality giant Oyo has secured Rs 1,457 crore (approximately $175 million) in a Series G funding round.
The investment comes from a consortium of investors including, Patient Capital ($100 million), InCred Wealth ($50 million), J&A Partners ($14 million) , the family office of Mankind Pharma promoters, and ASK Financial Holdings ($1.65 million ).
Known for its budget-friendly hotel accommodations, Oyo operates by leasing and franchising hotels, homes, and living spaces that can be easily booked online.
Despite this significant infusion of funds, Oyo's valuation has remained steady at $2.38 billion, marking a considerable 70% decline from its peak valuation of $9.6 billion in 2021.
Previously, Oyo had initiated the process of going public but subsequently withdrew its draft papers twice due to unfavourable market conditions. With the successful completion of this funding round, the company is expected to refile its IPO documents.
Oyo also plans to utilize the fresh capital for accelerating growth, expanding its global footprint, and implementing enhanced business strategies. This includes potential acquisitions to strengthen its market position.
