OYO has confirmed that it took $100 million in funding from ride-hailing app Grab during its last capital-raising round.
The investment came during its massive $800 million round in September this year, when SoftBank Vision Fund led the injection alongside existing investors Lightspeed Venture Partners, Sequoia and Greenoaks Capital.
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Grab was an unnamed participant at the time, but OYO has disclosed that the round included the $100 million from Asia Pacific's ambitious ground transportation service.
No other details have been shared by OYO or Grab regarding the strategy behind the investment.
But the confirmation comes at the end of vitally important year for Grab during which period it has raised substantial levels of money itself (including $200 million from Booking Holdings in October and $1 billion from Toyota in June).
In March, Grab bought Uber’s business in Southeast Asia, although that deal is being challenged by regulators in Singapore.