Indian hospitality unicorn Oyo’s Japanese arm has launched operations in more than 100 hotels across Japan in a joint venture with majority investor SoftBank Group Corp.
The SoftBank-Oyo partnership, Oyo Hotels Japan, opened hotels in more than 50 Japanese cities, including Tokyo, Osaka and Kyoto.
Reuters reported Softbank has been struggling to raise money for a second investment fund after the failed public offering of office-rental company WeWork. With the new investment, the firm hopes to have find a path to profitability.
Indian tech company Oyo was founded in 2013 and has becomes India’s second-most valuable startup, with a valuation of about $10 billion. The service covers 1.2 million rooms in more than 80 countries, including 590,000 rooms in China, where it operates under the brand name Oyo Jiadian and has a tie-up with online travel aggregator Ctrip. It also entered the U.S. market earlier this year and now lists 7,500 rooms in 60 cities. Recently,
