Bangalore: Treebo Hotels, the Bangalore based online platform that aggregates budget hotels raises $6 million in Series A round of funding led by Matrix Partners and Saif Partners. The company will utilize the funds for expanding their network of hotels, technology development and for hiring more staff. Veritas Legal was the legal advisor to Matrix Partners and Saif Partners in this investment deal.
Founded in 2015 by former McKinsey consultants Sidharth Gupta, Rahul Chaudhary and Kadam Jeet Jain (ex-VP Engineering of MyGola), Treebo (previously known as Zipotel) allows individuals to book hotels online across India. It offers a branded chain of hotels to the travelers at affordable prices. It has also partnered with many small standalone hotels to help them improve their service quality standards.
Based in Bangalore, Treebo claims to have over 200 rooms in M.G. Road, Koramangala and St. Marks Road. It plans to partner with more budget hotels to expand to a network of 5,000 rooms across 20 cities. Currently Treebo offers rooms starting at Rs.1,099 and promises its customers the usual fare of free WiFi, clean rooms and bedding, air conditioning, television and breakfast.