Danamica was sold to India's OYO Hotels & Homes for $10M.
Danamica, a Copenhagen, DEnmark-based company developing a business intelligence and automated pricing platform for vacation rental agencies, announced that it was acquired by OYO Hotels & Homes.
The financial details of the deal were not disclosed, but according to the media the transaction was made for as much as $10M.
Danamica, founded in 2016 by Rune Larsen and CEO Mads Westberg, built machine learning tools powering software dedicated for dynamic pricing of rental properties.
Oyo, founded in 2013 by Ritesh Agarwal, operates the largest hotel chain in India, is active in 80 countries and announced its ambitions of expanding into Europe and USA, fueled by $600M in investments.
Oyo competes directly with Airbnb and, similar to airlines or ride-sharing companies, it has introduced dynamic pricing in the hospitality industry, used by independent or small hoteliers and homeowners.
Also, notable, at the beginning of 2019, the 25-year-old Oyo's founder, Ritesh Agarwal, partly bought out early investors Lightspeed and Sequoia, in a deal that valued the company to $10 billion.