New Delhi, June 20 — Innov8, the co-working space company owned by OYO, has sold a 3 percent stake to investors at a valuation of Rs 1,000 crore to support its business expansion plans, according to sources familiar with the development.

Among the key investors in the latest deal, the Raymond Family Office has emerged as a prominent participant, acquiring nearly 2 percent stake in the company. The remaining 1 percent was picked up by other undisclosed investors. The OYO Group, which operates as a global travel technology platform, declined to comment on the transaction.

Earlier this year in January, Innov8 raised Rs 110 crore from a consortium of prominent investors, selling 10 percent of its equity to names including Gauri Khan, Mankind Pharma, Rupa Group, and the family office of Jagriti Dalmia.

Founded in 2015 by Ritesh Malik, Innov8 currently operates over 30 co-working centers across 10 cities including Delhi, Gurugram, Noida, Mumbai, Pune, Chennai, Bengaluru, Ahmedabad, Hyderabad, and Indore. The fresh capital is expected to aid the company in scaling its operations further in India's growing flexible workspace market.

New Delhi, March 7 – OYO, the global hospitality platform, has announced the appointment of Sonal Sinha as the Chief Executive Officer of G6 Hospitality. This decision follows OYO's recent acquisition of the American motel chain from Blackstone Real Estate, a deal that was completed in December last year.

As per agency reports, the acquisition has significantly expanded OYO’s presence in North America, adding 1,500 franchise hotels across the United States and Canada to its portfolio. The combined entity is expected to generate approximately three billion dollars in gross booking value, with G6 Hospitality contributing around 1.7 billion dollars. G6 Hospitality operates the well-known Motel 6 and Studio 6 brands.

OYO’s founder and Group CEO, Ritesh Agarwal, emphasized Sonal Sinha’s pivotal role in scaling OYO’s international business. His deep understanding of operations and proven track record in enhancing business performance make him a fitting choice to lead G6 Hospitality while maintaining OYO’s global momentum.

Sinha, a chartered accountant by profession, joined OYO in 2015 and has played a key role in the company’s expansion and strategy. Meanwhile, OYO also announced that its Chief Growth Officer, Kavikrut, will be stepping down from his role to take over as the CEO of T-Hub, India's largest incubator and an innovation hub dedicated to supporting startups in Telangana.

New Delhi, Jan 1 (IANS) Food delivery platforms like Zomato and Swiggy and quick commerce platforms like Blinkit and Zepto, along with hospitality major Oyo, saw highest-ever orders and bookings on the New Year's Eve, compared to previous years.

The quick grocery and food delivery platforms received huge orders as revellers preferred to stay home to celebrate the New Year.

“We have delivered almost as many orders on NYE 23 as we did on NYE 15, 16, 17, 18, 19, 20 combined. Excited about the future!” Zomato Founder and CEO Deepinder Goyal posted on X.

Albinder Dhindsa, CEO, Blinkit said they crossed the total number of orders they did on NYE 2022 in the evening only.

“We've already hit highest-ever orders in a day, OPM (orders per minute), soft drinks and tonic water sold in a day, chips sold in a day, tips given to riders in a day (thank you India),” Dhindsa informed.

“And it's not slowing down! All systems and stores holding up well till now,” he added.

Goyal posted that 3.2 lakh+ delivery partners across @zomato and @letsblinkit served India on the New Year's Eve.

A user from Lucknow placed an order worth Rs 33,683 on Blinkit, while a Kolkata person placed an order worth Rs 48,950 on Swiggy Instamart.

“India is partying like never before to ring in 2024,” Rohit Kapoor, CEO, Swiggy, posted on X.

“NYE 2024 broke all records across Swiggy Food and Instamart ! With the team at the stroke of midnight -- could not be happier,” Kapoor posted with a photo of his team at work.

A Swiggy spokesperson said that in preparation for the day, “we've been working with restaurant partners to extend serviceability, stocking up at Swiggy instamart pods, and ensuring our delivery fleet is at full strength”.

“We’ve also seen a remarkable surge in the number of year-end party bookings on Dineout. Dineout is also being used for reservations this year,” said the spokesperson.

Zepto, India’s first unicorn of last year, said it saw a definitive surge in orders.

“We had the privilege of serving 2.1 million more customers on our platform compared to the same time last year. 1.88 million monthly transacting users (MTUs) in Dec 2022 versus 4.04 million MTUs in December 2023," said Aadit Palicha, co-founder and CEO of Zepto.

Ritesh Agarwal, Founder and CEO of Oyo, said that both domestic and international bookings surged on New Year’s Eve.

“Last minute plans are driving global tourism. Between December 30 and 31 this year, we received 230k+ last minute bookings globally,” he posted on X.

Agarwal said that Oyo received more than 620,000 bookings for New Year Eve in 2023.

“We are up by 37 per cent from last year as last minute bookings rise. Ayodhya saw a 70 per cent jump in Oyo app users vs Goa (50 per cent) and Nainital (60 per cent),” he informed.