Grab is said to pour $103.4 million (Rp1.5 trillion) funding to Oyo as part of Series E fundraising for the India-based unicorn startup in hospitality. As planned, Grab investment is to be used for expansion in Southeast Asia, Indonesia in particular.
In Indonesia, Oyo has just introduced its service last October. They’re focused on helping the unbranded hotel owners by offering some technology-based solutions to improve management and service to meet the top-tier hotel standard.
Oyo’s brought some solutions, including Krypton App (audit-purposed mobile app), Oyo owner (hotel owners app for cash flow, business performance, customer reviews, and so on), and Oyo: Branded Hotels for consumers.
In its competition with Gojek, Grab positioned itself as a super app, to use Oyo’s credibility in providing added value to its services.
Oyo, on the other hand, collaborates with Grab for the company to reach the market faster. Take an example as HappyFresh collaboration with Grab in GrabFresh.
In its early age, Oyo partners with 30 property owners with 1000 rooms around Jakarta, Surabaya, and Palembang.
When first announcing its official business in Indonesia, Oyo has secured an investment worth of Rp1.5 trillion to win over the Indonesian market. The major investment will be used to build hotel network infrastructure and renovate the building to meet Oyo’s criteria. In addition, the company’s keep looking for talents, developing technology, and creating some marketing strategies to acquire new users.
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Original article is in Indonesian, translated by Kristin Siagian
