Treebo Ho­tels raises ₹220 cr in Se­ries C round

The Hindu Business Line - - FRONT PAGE - SANGEETHA CHENGAPPA

Bud­get ho­tel chain Treebo Ho­tels has raised ₹220 crore ($34 mil­lion) in a Se­ries C fund­ing round led by Hong Kong-based in­vest­ment firm Ward Ferry Man­age­ment and Karst Peak Cap­i­tal. Ex­ist­ing in­vestors SAIF Part­ners, Ma­trix Part­ners In­dia and Ber­tels­mann In­dia In­vest­ments also par­tic­i­pated in the round.

Sid­harth Gupta, cofounder, Treebo, said Ward Ferry and Karst Peak were sea­soned in­vestors in the global mar­kets, in­clud­ing in the travel and hos­pi­tal­ity space and Treebo looked for­ward to us­ing their ex­pe­ri­ence to drive growth.

Prior to the round, the com­pany had raised a to­tal of $23 mil­lion over two rounds from SAIF Part­ners, Ma­trix Part­ners In­dia and Ber­tels­mann In­dia In­vest­ments.

Treebo will in­vest the fresh funds into en­hanc­ing cus­tomer ex­pe­ri­ence, build­ing a stronger brand, strength­en­ing its tech­nol­ogy team, and ex­pand­ing its foot­print in ex­ist­ing and new cities. The com­pany is look­ing to achieve EBIDTA prof­itabil­ity in the next 24 months. It re­cently ap­pointed for­mer Ama­zon.com ex­ec­u­tive Pradeep Sri­ram as Head of Fi­nance.

It was founded in 2015 by Gupta, Rahul Chaud­hary and Kadam Jeet Jain.

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