Oyo files for ₹8,430 crore IPO💸

Quick recap of the week.

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Oyo files DRHP for $1.2 bn IPO; founder, key investors not diluting stake🛏

Travel technology company, Oravel Stays Limited (OYO), on Friday filed its Draft Red Herring Prospectus (DRHP) for its initial public offering (IPO) of Rs 8,430 crore ($1.2 billion) with the Securities and Exchange Board of India (SEBI).

Investors including founder Ritesh Agarwal, Lightspeed Venture Partners, Sequoia Capital, Star Virtue Investment Limited (Didi), Greenoaks Capital, AirBnB, HT Media and Microsoft are not diluting their shareholding.

Founded in 2012, OYO has more than 157,000 storefronts across more than 35 countries that use its platform. On the consumer side, the OYO app has been rated as the most downloaded accommodation app in Asia and the third-largest in the world in 2020 according to Sensor Tower.

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A quick recap of the week🚄

Monday

  • 30 firms may float public issues in Oct-Nov to mop up Rs 45,000 cr👏🏻

  • Jio leads active wireless subscriber base, adds 6.1 mn users in July📶

  • All crypto-related transactions are illegal, says China’s central bank🚫

Tuesday

  • Reliance Industries at lifetime high; the stock has surged over 27% this year📈

  • Adani Wilmar rolls out 'Fortune Mart' stores in 6 states🛒

  • Demand for commercial EVs likely to skyrocket🔌

Wednesday

  • US-based Invesco in talks to lead fresh funding round at Swiggy at $10 billion valuation🥘

  • Flipkart, Amazon set to intensify battle in the festive season⚔

  • Elon Musk overtakes Jeff Bezos to become world's richest person again🤑

Thursday

  • Vedantu Gets $100 Mn Funding, Becomes India's Fifth EdTech To Enter Unicorn Club👨🏻‍💻

  • Tata launches its super app ‘TataNeu’🦸‍♂️

  • Amazon launches Astro, a household robot on wheels🤖

Friday

  • Indian social commerce Meesho raises $570 mn at $4.9 billion valuation🛍

  • Ola Electric raises $200 million, to speed up electric bike, car production🛵

  • Facebook sees 35% year-on-year jump in creators monetising in India💸

Funding Deals

  • MyGlamm, a direct-to-consumer cosmetics firm, has raised an additional Rs 255 crore in debt and equity as part of its Series C fundraising round.

  • Capital Float, a digital lending startup, has raised $50 million in a round-headed by private equity firm Lightrock India.

  • Astrome Technologies, a 5G wireless deep-tech startup, has raised $3.4 million in a funding round co-led by IAN Fund, Urania Ventures (Germany) and Cognizant’s founder Lakshmi Narayanan.

  • bijnis, a business-to-business platform that connects factories with retailers, has raised $30 million (Rs 220 crore), in Series B funding led by Westbridge Capital.

  • CredAvenue, an enterprise debt marketplace, has raised $90 million in a Series A round led by Sequoia Capital, with Lightspeed, TVS Capital Funds, and Lightrock India.

  • MFine, a digital health platform, has raised $48 million in a Series C round led by Moore Strategic Ventures and BEENEXT.

  • Exotel, a cloud telephony company, has raised $35 million in a Series C funding round led by Sistema, CX Partners, and existing investor A91 Partners.

  • Leena AI, an enterprise software-as-a-service company, has raised $30 million in a Series B funding round led by Bessemer Venture Partners.

  • OfBusiness, a B2B commerce startup, has raised fresh funding of $207 million led by New York-based investment fund Tiger Global. With this, its valuation has doubled to $3 billion from $1.5 billion in July.

  • BluSmart, an EV ride-hailing aggregator, has raised $25 million in a Series A round led by BP ventures.

  • Cusmat, an immersive skilling and training platform for industries, has raised $100,000 in pre-series A fund round led by We Founder Circle.


Have a wonderful weekend!🥳

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