Tech-enabled budget hotel chain Treebo has raised Rs 112 crore (~$16.7M) in a Series B round of funding led by Bertelsmann India Investments (BII) and with participation from SAIF Partners and Matrix Partners India. The platform will use the funding for expand to more than 60 cities and increasing its current inventory of 3,000 rooms to 12,000 rooms in the next 12 months, including business and leisure destinations. It also plans to launch a product extension including mid scale and leisure rooms, expanding from its current portfolio of budget rooms. Treebo had previously raised around $6 million in funding from SAIF and Matrix in June last year. The company was founded the same year by former Myntra executives Siddharth Gupta and Rahul Chaudhary, along with Kadam Jeet Jain. Treebo is currently active in Kolkata, Goa, Mysore, Gurgaon, Chandigarh, Ooty, Udaipur, Manali, Agra, Kodaikanal, Bangalore, Chennai etc. It had recently expanded operations to Mumbai, Delhi and Jaipur, when it said that it would adopt a differentiated pricing system in different cities. At the time it claimed that it had 75% occupancy in its inventory of 1,000 rooms in Bangalore over two months. Competition Treebo enters a crowded place in the budget hotels space and it remains to be seen how it will differentiate itself from the current crop of players who are already operating in the same space. It currently offers certain unique features like ‘Friends of Treebo’ wherein registered members of the community stay at Treebo properties as its unannounced…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...