OYO has raised $5 million from Microsoft as per the regulatory filing. The funding comes at a time when the company is increasing its focus on tech. The company is set to offer many innovations and investments in technology to generate revenues for hotel owners while developing the user experience for customers.

OYO also plans to hire 300 technology professionals, including software development, engineering, product managers, designers, data scientists across entry-level to senior leadership roles.

OYO right now has a tech stack of more than 50 products and 500 microservices, which includes its consumer and partner apps like OYO, OYO OS, Co-OYO, as well as various applications led by artificial intelligence, machine learning, and analytics. OYO is also planning an initial public offering (IPO) and has shortlisted investment banks like JPMorgan, Kotak Mahindra Capital, and Citi.