India’s unicorn Oyo adds US$807M Series F after announcing restructuring plans
Even after increased losses of the company, Indian hospitality company Oyo has raised US$807 million in Series F funding from SVF India Holdings and RA Hospitality, according to Inc42.
Prior to this, founder Ritesh Agarwal had expressed plans for global restructuring, which had led to a mass layoff of 10,000 employees over two months across 80 countries.
Since 2012, OYO has expanded to 800 cities in 80 countries, including the US, the UK, and the Middle East, and some European countries.
Meanwhile, in Asia, it has expanded its operations to China, Malaysia, Indonesia, and Japan.