- Treebo is an Indian hotel chain that provides budget hotels to its customers.
- Treebo has over 600 hotels in 113 cities in the country.
- Earlier this month, The startup had raised $6 million from its existing investors Matrix Partners India and others.
Banglore-based tech-enabled hotel chain startup Treebo raises Rs 10 crore (or about $1.35 million) in its ongoing venture funding round led by a group of various angel investors including, Vijay Shekhar Sharma (Founder & CEO of Paytm); Jaydeep Barman (Co-founder & CEO of Rebel Foods); Deepak Parayanken (Managing Director of Mozambique Holdings).
The investment comes three weeks later when Treebo raised $6 million (or about Rs 44 crore) in its ongoing venture round led by its existing investors including, Elevation Capital, Matrix Partners India, Bertelsmann India Investments, and Wardy Ferry Management.
While the current funding round was led by Deepak Parayanken (Deputy M.D of Mozambique Holdings), whose family office owns the five luxury hotels in the United States, operating under various top brands such as Holiday In and Hyatt.
The startup may use this fresh funding to expand its presence in other cities across the country.
During this year, Treebo Hotels has raised over Rs 90 crore (or about $12 million) in a total of 4 funding rounds.
In June 2015, The startup first raised $6 million (or about Rs 38 crore) in its Series A funding round led by Hong Kong-based venture fund Elevation Capital and Matrix Partners India.
With this investment, Treebo has raised over $69 million (or about Rs 470 crore) in a total of eight funding rounds mostly participated by Elevation Capital and Matrix Partners India.
Commenting on the development, Sidharth Gupta (Co-founder of Treebo) said, “They are taking a bet on the long-term prospects and the strong fundamentals of the business, which is hugely encouraging. We are excited about not just their capital but also the valuable advice and guidance they can offer.”
“As investors in the hospitality and real estate space ourselves, we understand the role, technology, and a good brand play in the success of any hospitality business,” said Deepak Parayanken (Deputy Managing Director of Mozambique Holdings).
To diversify the medium of revenue streams, Treebo launched its new business called Hotel Superhero, a SaaS (Software-as-a-service) based solution platform which offers integrated cloud-based hotel management software to independent hotels and chains.
About Treebo – Treebo is a Bangalore-based budget hotel chain startup founded in 2015 by Sidharth Gupta, Kadam Jeet Singh, and Rahul Chaudhary. Treebo aims to offer premium accommodation at the best budget prices for middle-class people via its partnered hotels across the country.
Treebo uses technology to transform the hospitality sector in the country. At present, Treebo has more than 600 hotels in its portfolio in 113 cities in the country.
Treebo Hotels directly competes with the top scorers such as OYO Rooms, ZO Rooms, Zostel, Qik Stay, etc.