Airbnb to invest up to $200 million in Oyo

San Francisco-headquartered home renting firm Airbnb on Monday announced an investment that ranges $100-200 million in Indian start-up Oyo Hotels and Homes.

Though Airbnb did not disclose any amount of the investment, sources in the know said that the amount could range between the figures mentioned above.

This investment is part of the company’s series E funding, which was made in September. Oyo, which raised $1 billion last year, is backed by investors, which include the SoftBank Group, Sequoia India, Lightspeed India and China Lodging Group to name a few.

“Airbnb’s strong global footprint and access to local communities will open up new opportunities for Oyo Hotels and Homes to strengthen and grow while staying true to our core value proposition.