Treebo Hotels, the Bengaluru-headquartered budget hospitality chain, announced that it has raised ₹10 crore from a group of angel investors. The list includes Vijay Shekhar Sharma, founder and CEO of Paytm; Jaydeep Barman, co-founder and CEO of Rebel Foods (Faasos); and Deepak Parayanken, Managing Director of Mozambique Holdings.
Shantanu Deshpande, co-founder and CEO of Bombay Shaving Company; Siddharth Velakacharla, Partner at Indus Capital Partners; Gautam Gurnani, Vice President, Investments at Dubai Holding along with several senior executives from McKinsey, Amazon and Microsoft also participated in the current funding round.
The company recently raised $6 million from existing investors Matrix Partners India, SAIF Partners, Ward Ferry and Bertelsmann India.
Speaking on the fundraise, Sidharth Gupta, co-founder, Treebo, said, “The belief demonstrated by these investors – all seasoned business professionals themselves – in Treebo despite the current challenging times is precious for us. 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.”
Commenting on the investment, Deepak Parayanken said: “ Treebo has developed strong capabilities in both these areas. That’s what attracted us towards the company. Their hotel management software, Hotel Superhero, is something that hotels of all sizes and shapes across the world can benefit from.”
“Their unique playbook of providing quality assurance to customers and better monetisation to hotel owners in the budget segment is also something that has global potential,” Parayanken added.
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