Oyo received a two-month investment;

Swedish businessman and DIG founder Martin Soderstrom invested and joined Oyo’s European Vacation homes unit board of directors.

Oyo said Martin will help in assisting in exploring mergers and acquisitions.

About $ 7.4 million is invested by Hindustan media ventures in Oyo for the extension in the startup’s series funding.

Oyo rooms were founded by Ritesh Agrawal in the year 2013. Oyo rooms are an Indian rental vacation rental online marketplace company. They mostly consist of budget and affordable hotels.

Oyo Hotels & homes raised $807 million in series in March 2020 in RA hospitality and a unit of Softbank vision fund. It was an extension of the round.

Shishir Gupta, Founder & CEO of StartupLanes says, “In short Span, Oyo did an impressive job from its services to increasing funds. It is impressive that Oyo is emerging as a brand by providing rooms within budget in every corner of the country. I m overwhelmed with its performance. my best wishes to them.”