Treebo Hotels raises $34 million capital in a Series C funding round

Treebo Hotels, the budget hotel chain owned by Ruptub Solutions, has raised $34 million capital in a Series C funding round led by Hong Kong-based hedge funds Ward Ferry Management and Karst Peak Capital. Besides the lead investors, the existing investors including Bertelsmann India, SAIF Partners and Matrix Partners India also participated in the funding round. The startup has raised $57 million funding till now including $2.5 million venture debt funding from InnoVen Capital. Treebo is expected to use its proceed towards further building its technology platform, expanding its footprints and investing into guest experiences.

Sidharth Gupta, co-founder of Treebo, commented that “Like most consumer-facing segments, this is also a fairly active and intense space, with a lot of players in the segment. Therefore, for us to build awareness and recall amongst our target audience, we do need to have some share of the voice as well”. He further added that “We don’t think that (discounts) can be the arrowhead of our strategy. There’s no doubt that in order to be competitive, we need to be in the same market and be competitive on price as well. But our bet on the market is on experience and building a brand that customers love”.