In BriefPosted:8:44 PM PST November 17, 2024Image Credits:Akio Kon / Bloomberg / Getty ImagesOyo founder seeks new investment at $3.8B valuationAn investment vehicle backed by Oyos founder, Ritesh Agarwal, has proposed to inject another $65.1 million into the Indian hospitality startup, according to notices to shareholders that were reviewed by TechCrunch.The investment, through Redsprig Innovation Partners, would value the SoftBank-backed company at $3.8 billion, according to terms shared in a notice to shareholders.While this represents a 38% premium to Oyos recent $2.3 billion valuation in June, the implied price tag remains significantly below the startups 2019 peak of $10 billion. Oyo has raised more than $3.4 billion in equity and debt since its inception, according to Tracxn.Redsprig invested about $100 million in the June funding round, in which Oyo raised $175 million.It remains unclear who else is backing Redsprig and whether Agarwal has settled the $2 billion loan he took in 2019 to repurchase Oyo shares from Peak XV and Lightspeed India.The hospitality group is preparing to file for the third time for an initial public offering within two months, according to a person familiar with the matter.Topics