OYO Hotels and Homes is seeking $1.5 billion in a series F financing round, Livemint reported, citing a statement from the India-based hospitality company.
RA Hospitality Holdings will invest about $700 million as primary capital in the company, while the remaining $800 million will come from other current investors. Founder and CEO Ritesh Agarwal reportedly said investors such as the SoftBank Investment Advisers (UK) Ltd.-managed SoftBank Vision Fund LP, Lightspeed Venture Partners and Sequoia Capital will continue to support the business and its mission.
Livemint reported that a significant portion of the capital will be used for OYO Hotels and Homes' expansion in the U.S. and for the acceleration of its vacation rentals business in Europe.
The company obtained about $102.9 million in a series E round in April, according to S&P Market Intelligence data.
