Oyo Valuation Plummets Over 75% in New Funding Round

- Oyo's valuation has dropped from $10 billion to $2.4 billion in a recent Series G funding round. - The Gurugram-based budget hotel chain raised $173.5 million, with significant contributions from Patient Capital, InCred Wealth, and J&A Partners. - Oyo's current valuation is now below its total capital raised, which is approximately $3.3 billion. - SoftBank, a major backer, had internally cut Oyo's valuation to $2.7 billion in 2022, a move Oyo previously disputed. - The new funding comes after Oyo withdrew its IPO application for the second time earlier this year. - India’s market regulator, SEBI, has never approved the startup’s application for an IPO. Source: [Techcrunch](https://techcrunch.com/2024/08/11/oyo-valuation-crashes-over-75-in-new-funding/)