Ritesh Aggarwal-led hospitality giant OYO as officially appointed Sumer Juneja as a non-executive director.
The decision comes after a month after Juneja was inducted as an additional director, representing SoftBank. The appointment is in accordance with a resolution passed by the company’s board, as detailed in a regulatory filing with the Registrar of Companies (RoC).
Sumer Juneja brings a wealth of experience to Oyo, he was the Managing Director for EMEA & India at SoftBank’s investment advisors. He plays a major role in SoftBank’s investments across several high-profile companies, including Lenskart, Swiggy, Eruditus, and Unacademy.
He was also a partner at Norwest Venture and worked in the Goldman Sachs Asia special situations group, gaining significant expertise in corporate structuring and governance.
The company recently secured $175 million in Series G round led by Patient Capital — an entity managed by Oyo’s Ritesh Agarwal in Singapore .
This year the round valued the hospitality giant at $2.4 billion, where Oyo’s valuation declined to 70% its peak valuation of $9.6 billion in August 2021 when Microsoft invested $5 million.
(sunday hotel )
As per sources, OYO is looking for the services such as laundry and room service. The company has also ventured into luxury accommodation with the brand name ‘Sunday’ which has its operation in 3 cities —Jaipur, Chandigarh and Ahmedabad. Sunday Hotel is a joint venture between Oyo’ parent company and its largest investor SoftBank. Sunday Hotel also plans to open 25 properties in India by the end of FY25.
