India’s OYO snags $10M strategic investment from hotel giant China Lodging

Indian budget hotel startup OYO pulled in a big $250 million round led by SoftBank’s Vision Fund last week, but now it has topped that money up with a $10 million strategic investment from multi-billion dollar hotel management firm China Lodging.

Beyond the financial commitment from NASDAQ-listed China Lodging — which was formerly known as Huazhu Hotels and is valued at $6.8 billion — the two companies work together and learn from each other going forward, as opposed to operating some form of joint entity.

There’s no specific business agreement in place at this point, instead the duo will “explore initiating knowledge and technology sharing projects of mutual interest.” A press announcement explained that this could constitute employee exchange program, and the…

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