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Grab invests $100M into India's OYO to expand its budget hotel service in Southeast Asia
11 days ago - By Tech Crunch
Southeast Asian ride-hailing firm Grab has made its most ambitious investment to date after it backed India-headquartered budget hotel network OYO to the tune of $100 million. The investment was part of a $1 billion Series E round led by SoftBank's Vision Fund that closed back in September.
Grab has done a handful of strategic deals thus far, including investments in bike-sharing startup oBike and grocery delivery service HappyFresh, but those have been far smaller and local to Southeast Asia. Its highest acquisition to date is around $100 million for Indonesia-based offline payment...
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