Oyo raises $50 million from InCred; valuation cut by 76% to $2.38 billion

Hospitality unicorn Oyo has secured $50 million in funding from InCred Wealth and Investment, marking its first significant capital infusion in nearly three years. However, the investment values the Gurugram-based company at $2.38 billion, a substantial 76% decrease from its peak valuation of $10 billion.

According to regulatory filings, Oyo’s board approved the issuance of new shares to InCred, granting the investor a 2.11% stake in the company post-investment.