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2 days ago · InCred Wealth and Investment has provided Rs 416.85 crore (about $50 million) to Ritesh Agarwal’s OYO in a historic move, the company’s first large capital round in almost three years. This cash infusion coincides with a critical moment for OYO, which is focused on growing its worldwide footprint and profitability.
2 days ago · OYO founder Ritesh Agarwal. Gurugram-based hospitality unicorn OYO has secured INR 416.85 crore (approximately USD 50 million) from InCred Wealth and Investment. According to RoC filings accessed ...
3 days ago · Earlier, OYO Founder Ritesh Agarwal posted on X that the company had a profit after tax (PAT) of nearly Rs 100 crore in FY24 and marked its eighth consecutive EBITDA-positive quarter.
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2 days ago · Shark Tank India judge Ritesh Agarwal-led hospitality unicorn OYO has reportedly raised around Rs 416.85 crore (or nearly $50 million) from InCred Wealth and Investment. While there is no official announcement from the company, Entrackr's report said the investment valued OYO at Rs 19,756 crore (around $2.38 billion), marking a significant 76% decrease from its peak valuation of $10 billion.
3 days ago · Recently, Oyo’s founder Ritesh Aggarwal said that the firm posted its maiden annual net profit of Rs 100 crore in FY24. The company didn’t disclose its revenue for the last fiscal. In FY23, its revenue from operations grew 14.3% to Rs 5,464 crore from Rs 4,871 crore in FY22. During the period, the firm cut down losses by 33.7% to Rs 1,287 ...
2 days ago · As per Tech Crunch, at the time of the investment, Oyo’s valuation was $9.6 billion, slightly below its peak valuation of $10 billion. The investment came just as the start-up was recovering from the Covid-19 pandemic. Speaking to Bloomberg TV, Ritesh Agarwal, the company CEO, said that the pandemic hit the company like a cyclone.
3 days ago · Ritesh Agarwal-led hospitality unicorn OYO is raising $50 Mn (about INR 415 Cr) from financial services provider InCred ... Founded in 2012 by Agarwal, OYO is a hospitality service company that ...
