• Graas

  Participated · Series B · Aug 2026

  Graas, founded in 2022 and based in Singapore, builds AI tools for retail commerce centered on its Commerce Knowledge Graph, which the company says draws on more than $1 billion in live commerce transactions. Its platform deploys AI agents that recommend and sell across text, voice and vision and serves enterprise customers including Unilever, Puma and Schneider Electric across Australia, Southeast Asia and the Gulf. In its announced Series B, Graas raised $17 million and concurrently acquired Trustana to add product-data enrichment and structuring capabilities to its database. The acquisition adds Trustana’s customers—such as David Jones, Chemist Warehouse and Toys"R"Us—and expands Graas’s geographic reach. Graas and Trustana are both based in Singapore, and the combined offering is positioned to deepen Graas’s data integration across product, customer and inventory sources.

• OYO

  Participated · Series G · Aug 2024

  Oyo operates a chain of budget hotels out of Gurugram and has been mired in a series of controversies and financial setbacks. The company has seen a steep valuation decline from a $10 billion peak to about $2.4 billion following the latest funding. Oyo counts major backers including SoftBank (which owns more than 40%), Airbnb, Peak XV Partners, Microsoft and Lightspeed Venture Partners. It has attempted to go public twice, withdrawing its draft red herring prospectus for an IPO for the second time earlier this year; its 2021 filing sought roughly $1.2 billion at a $12 billion valuation. Tracxn reports Oyo has raised approximately $3.3 billion in combined equity and debt financing to date. Founder Ritesh Agarwal previously agreed to invest $1.5 billion in 2019 at a $10 billion valuation. The new funding round and valuation cut reflect ongoing challenges for the company. Oyo operates a platform that lists and partners with hotels and runs an Accelerator Programme offering mentorship, access to technology and financial support to help owners scale. The Accelerator Programme, launched in March last year to support 50 first‑generation hoteliers, now assists over 700 hotels and more than 85 small and first‑generation hoteliers and is open to owners with five or more operating hotels. The company reported that PAT in Q3 FY2024 doubled sequentially to Rs 30 crore after a maiden profitable quarter (Q2) with over Rs 16 crore PAT. Oyo said revenue grew 10% year‑on‑year and the number of hotels on its platform rose 27% in the third quarter. Management expects net profit to continue growing and reportedly aims to surpass an earlier projection of Rs 800 crore and post an adjusted EBITDA of Rs 1,000 crore this fiscal year. In November 2023 Oyo completed a debt buyback of Rs 1,620 crore (repurchasing 30% of its outstanding term loan B due June 2026), and hoteliers who participated in that programme reportedly saw about a 20% revenue increase within three months. Oyo is an Indian budget hotel chain that has aggressively expanded into Southeast Asia, Europe and the U.S. Its core business centers on franchising and operating economy hotel properties. The company has faced governance and cultural issues and strained relationships with many hotel owners, which have affected growth. The pandemic forced Oyo to slow expansion, lay off thousands of employees and see demand fall sharply; CEO Ritesh Agarwal said revenue dropped over 60% in about 30 days. Management has pared monthly burn to roughly $4–5 million and reported between $780–800 million in the bank, down from about $1 billion in December 2020. Oyo is reportedly planning to file for an IPO later this year and may shift to using Microsoft’s cloud services as part of a strategic investment. Oyo is a fast-growing Indian hospitality business that operates a global chain of hotels and recently expanded into co-working through Oyo Workspaces. The company manages more than 23,000 hotels across 800 cities in 80 countries and runs over 50 Oyo Hotels in 35 U.S. cities across 10 states. Founder Ritesh Agarwal, who founded the firm in 2013, increased his stake from 10% to 30% via Cayman Islands company RA Hospitality Holdings after purchasing $2 billion in shares. The transaction valued the business at $10 billion and coincided with SoftBank increasing its ownership to nearly half the company. Oyo has raised $1.6 billion in equity to date and was valued at $5 billion at its last funding round. The company has also acquired Innov8 for about $30 million and launched Oyo Workspaces, reflecting a push into new service lines and a planned $300 million investment in the U.S. market. OYO is an India-based hospitality company founded by Ritesh Agarwal that helps people book budget hotels and affordable stays. The company has been shifting from aggregating budget hotels toward hospitality management and expanded its branded network to the U.K., with possible acceleration into the U.S. OYO currently covers about 500,000 rooms across 13,000 hotels and 6,000 homes in eight countries including India, China, Malaysia, Indonesia, Nepal, the U.K., and the Philippines. Financially, OYO raised a $1 billion Series E led by the SoftBank Vision Fund (with Grab contributing $100 million) that valued the company at about $5 billion. In total, OYO has raised more than $1.5 billion to date. Going forward the company plans to collaborate with Airbnb, including potential listings of OYO properties on Airbnb to drive overseas traveler revenue and growth.

No current team members are available.