Greenoaks leads $25m investment in India hotel marketplace

Existing investors Lightspeed Venture Partners, Sequoia Capital and DSG Consumer Partners also participated in the round.

Oravel was established in 2012 and launched Oravel.com, a marketplace for boutique hotels and serviced apartments for short- and mid-term holiday rentals. However, the original site shut down in last year, and was replaced with OYO Rooms. The site now aggregates 200 hotels across 10 cities and plans to have 1,000 properties across 25 cities, by year end.

According to VCCircle, the firm was incubated at VentureNursery and raised an undisclosed seed round from a group of investors, including eight angel investors, in 2012. Then in May last year it received $650,000 from DSG Consumer Partners and Lightspeed Venture Partners.

“We believe OYO Rooms has an opportunity to solve major pain points for hotel owners and customers by leveraging technology to deliver a consistent experience in the budget hotel space,” said Neil Mehta, founder and managing director at Greenoaks Capital.

Another online accommodation aggregator in India, Stayzilla.com, recently raised a $20 million Series B round of funding led by Nexus Venture Partners with Matrix India.

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• Topics
• Technology
• South Asia
• Early-stage
• Consumer
• India
• Venture
• TMT
• Consumer