Budget hotel chain Oyo has raised approximately $174 million in a Series G funding round.
Patient Capital, which is run by Oyo founder Ritesh Agarwal, InCred Wealth and J&A Partners all contributed to the round.
In a meeting held last week, Agarwal thanked investors, shareholders, hotel and homeowners for their ongoing support of the company and highlighted “healthy growth opportunities for the future.”
He also said that the additional capital would help the company in its “future growth efforts.”
Subscribe to our newsletter below
India-based Oyo has attempted to go public in the past initially filing its Draft Red Herring Prospectus with Sebi, the Stock Exchange of India, in late 2021.
Earlier that year the company had raised more than $7 million as part of a Series F funding round. And, in July of the same year it secured a loan of $660 million.
In 2023 it withdrew and refiled its IPO documentation only to withdraw it again in May of this year.
A comment from Agarwal on X the same month said the company had had its “maiden net profitable financial year” as well as its eighth consecutive quarter of positive EBITDA.
