Oyo eyes over $12-15 Bn valuation🏩
Oyo eyes over $12-15 Bn valuation🏩
Quick recap of the week.
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Oyo eyes over $12-15 billion valuation in IPO, founder won’t sell any shares🏩
Oyo Hotels & Homes plans to go public in India at a valuation of $12-$15 billion, people aware of its plans told us. It is looking to raise anywhere between $1-$1.2 billion, mainly by issuing fresh shares.
Existing investors will also sell parts of their holdings in the IPO but founder Ritesh Agarwal is likely to hold on to his entire stake, the sources said. Agarwal owns more than 30% of Oyo’s parent firm Oravel Stays.
Yesterday, we reported that Oyo could file its draft IPO prospectus by mid-October.
A quick recap of the week🚄
Monday
Tata Digital to Launch Cosmetics Marketplace💄
Kerala builds new 2 lakh sq ft campus in Kochi; eyes 15,000 startups by 2026🏗
Tesla to work with global regulators on data security🌐
Tuesday
Salesforce backs Indian payments startup Razorpay💪🏻
FB India appoints ex-IAS officer as Head of Public Policy👨🏻💼
CARS24 raises $450 million at a $1.84 billion valuation🚘
Wednesday
Adani takes on Mukesh Ambani, to invest $20 bn in renewable energy☀
Dream11’s revenue crosses Rs 2,000 Cr in FY20 with Rs 181 Cr in profits💸
IPO-bound Mobikwik reserves 7% of its equity for employee stock options🤗
Thursday
Freshworks makes stellar debut on Nasdaq, m-cap crosses $13 Bn🤩
Vodafone Idea will survive, confident of fundraising deal, says CEO⚔
Sony Pictures India To Buy Zee Entertainment🤝🏻
Friday
Paras Defence and Space Technologies IPO sees highest-ever subscription of 304 times🛰
Oyo appoints banks for IPO, set to file draft papers in October📈
Accenture posts strong Q4 results, annual revenue at a record $50.5 Bn💰
Funding Deals
Mindler, an edtech firm, announced a $1.5 million funding round led by Ecosystem Ventures, Inflection Point Ventures, nVentures Singapore, and Chennai Angels.
Awon GameZ, a gaming startup, raised $2 million in seed funding from Aditya Duggar and Family.
Paytail, a fintech startup, raised $1.5 million from Cholamandalam and other angel investors.
FloBiz, a startup that helps digitize small and medium businesses, has raised $31 million in a Series B round led by Sequoia Capital India and Think Investments.
Design Café, a home interior solutions startup, has raised $25 million in an extended Series B round.
ePayLater, a fintech startup, has raised $10 million from a group of investors including Zurich-based ResponsAbility Investments AG and Blue Ashva Capital.
WinZO, a regional language social gaming platform, has announced a $20 million fund for the Indian game developer ecosystem.
Wow! Momo Foods has raised around $17 million, led by Tree Line Investment Management, at a valuation of Rs 1,225 crore.
Infra.Market, the Tiger Global-backed marketplace for construction materials, has acquired RDC Concrete from private equity firm True North.
ZestMoney, an Indian ‘buy now, pay later’ platform, has raised $50 million from Australian peer Zip Co. Ltd as part of its Series C funding round.
Lio, an IT startup, raised around Rs 37 crore in a seed funding round led by Sequoia Capital India and Lightspeed India.
Mphasis, an IT solutions company, has acquired Blink UX, a user experience research, strategy, and design firm, for about $94 million in an all-cash deal.
Fittr, a community-based health and online fitness marketplace, has raised $11.5 million in Series A funding led by Dream Sports’ corporate venture fund Dream Capital and Elysian Park Ventures.
Karbon Card, a fintech startup offering corporate cards, has raised $12 million in a funding round that also included US-based fintech unicorn Ramp, Rainfall Ventures, Roka Works, and Y Combinator.
General Motors Co. said it will invest $300 million in Chinese autonomous driving startup Momenta to develop self-driving technologies for future models.
Have a wonderful weekend!🥳
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