OYO raises $5 million from Microsoft Corporation
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Hospitality firm OYO has raised $5 million from global technology firm Microsoft Corporation in a strategic round at a $9.6 billion valuations, as per the regulatory filing.
The development comes at a time when the company is massively increasing its tech focus. The travel technology player is set to introduce several innovations and commit to investments in technology with an aim to optimise the revenues for hotel owners while improving the user experience for customers.
OYO currently has a tech stack of over 50 products and 500 microservices, including its consumer and partner apps such as OYO, OYO OS, Co-OYO, as well as several applications led by artificial intelligence, machine learning, and analytics such as a dynamic pricing app called tariff manager.
