Grab is expected to close the deal within the next few days, although there is however no certainty to to this.
On Monday, the Economic Times, has reported citing two sources briefed on the matter at hand, ride hailing firm Grab is in advanced talks to invest $100 million in Oyo, an Indian hotel-reservations startup.
As per the report, Grab is expected to close the deal in the next few days.
The proposed investment is part of Oyo’s ongoing $1 billion funding round and will be made through A1 Holdings Inc.
In its last funding round in August 2018, Grab was valued at nearly $11 billion, said sources.
Neither Oyo nor Grab responded requests for comment.