India’s budget hotel startup OYO raises $1B for international growth

OYO, the India-based startup that operates a network of budget hotels, has pulled in $1 billion in new funding to grow its business in China and expand into other international markets.
The majority of the funding — $800 million, to be exact — was led by SoftBank’sVision Fund with participation from Lightspeed, Sequoia and Greenoaks Capital. OYO said there is also an additional $200 million that has been committed from as-yet-unnamed investors. The deal valu