San Francisco | Airbnb said it had raised $US1 billion ($1.63 billion) in new funding as it grapples with devastation from the coronavirus pandemic and as some technology start-ups take extra measures to stockpile cash during the outbreak.

Private equity giant Silver Lake and investment firm Sixth Street Partners led the investment, which was a mixture of equity and debt. Airbnb, a home rental start-up that was previously valued at as much as $31 billion, also lowered its internal valuation to $26 billion last month, according to a person with knowledge of the situation who declined to be identified because the information was confidential.