India's OYO bags about $100 mln from Singapore's Grab’s unit

12/08/2018 10:10:00 AM (GMT)

Indian hotel chain operator OYO has bagged approximately 700 crore rupees ($100 million) in funding.

OYO secured the funds from Singaporean ride-hailing, food delivery and logistics services firm Grab's unit., A1 Holding Inc.

The company said that it aims to pump in over $100 million in Indonesia and intends to extend to the top 35 cities in Indonesia, including Yogyakarta, Bandung, Bali, over the next 15 months.

OYO also seeks to form more than 60,000, direct and indirect, livelihood opportunities in Indonesia.

OYO Rooms

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