The startup is valued at around $1.2-1.3 billion after the funding.
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Luckin has signed an MoU with Kuwait's Americana Group to launch the business in the Greater Middle East and India regions.
Lightspeed alone is expected to rake in about $1 billion by selling half of its current 13.4 per cent stake in OYO.
The fresh investment round will take Agarwal’s stake to around 30% from 10%.
India’s unicorn tally is expected to hit 50 by 2025, with a mix of firms that meet local consumer needs and businesses making crucial enterprise sof
The firm had suspended the service a year back following the murder of a female passenger by her Didi driver.
The move comes on the heels of an overall $250 million investment in GOJEK.
The enterprise software segment is heating up as investors scour the industry for India’s next startup giants.
The partnership will sharpen its focus on cashless payments, a key frontier in the region's super app battle.
RA Hospitality is most likely jointly owned by Agarwal, SoftBank, and other financial institutions.
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