India’s Oyo, once valued at $10 billion, seeks new funding at 70% discount

Oyo, the Indian budget-hotel chain startup, is negotiating with investors to raise a new round of funding that could cut the Indian firm’s valuation to $3 billion or lower, three sources familiar with the matter told TechCrunch.
The startup is engaging with investors, including Malaysia’s sovereign wealth fund Khazanah, for the new funding, the sources said,…