wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

Online hotel aggregator Treebo Hotels secures Series C funding

Treebo Hotels, a Bangalore-based online budget hotel aggregator has raised $34 Million (Rs 220 crore) in its Series C funding round led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital. Existing investors, SAIF Partners, Matrix Partners India, and Bertelsmann India Investments also participated in the round. Treebo said in a statement that it 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 platform currently has close to 300 franchisees operating under its brand across in about 50 cities. Treebo’s previous funding With this round the company has raised a total of $57M in three rounds from multiple investors: Series B: -In July last year, Treebo secured funding of Rs 112 crore (~$16.7M)  and said that it will use the funding for expand to more than 60 cities and increasing its inventory 12,000 rooms. It said that it plans to launch a product extension including mid scale and leisure rooms, expanding from its current portfolio of budget rooms. Series A: In June 2015, Treebo raised around $6 million in funding from SAIF and Matrix. The company was started in the same year by former Myntra executives Siddharth Gupta and Rahul Chaudhary, along with Kadam Jeet Jain. Competition Treebo competes with numerous place in budget hotel space, which include OYO Rooms, FabHotels, MakeMyTrip-GoIbibo, Paytm, Booking.com, Hotels.com, Yatra, Airbnb- to name a few. Last month, Gurgaon-based online budget hotel aggregator FabHotels…

Please subscribe/login to read the full story.
Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

You May Also Like

News

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...

Advert

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...

News

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...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ