Treebo Hotels, a travel start-up that operates in many cities in India, has raised $34 million in Series C round led by Ward Ferry Management and Karst Peak Capital of Hong Kong along with existing investors Matrix Partners India, SAIF Partners and Bertelsmann India Investments.
According to a source, Sidharth Gupta, co-founder, Treebo, said, “Ward Ferry and Karst Peak were seasoned investors in the global markets, including in the travel and hospitality space and Treebo looked forward to using their experience to drive growth.”
With the new raised capital, Treebo plans to improve customer experience, marketing, technical and expansions.
In 2015, in series A funding, Treebo Hotels has raised $6 million from Matrix Partners and SAIF Partners.
In 2016 series B funding, it has raised 17 million from three investors- Bertelsmann India Investments, Matrix Partners and SAIF Partners.
The company has also began to advertise on TV using a high-profile actor Irrfan Khan in order to gain more audience.
Treebo Hotels was co-founded by Rahul Chaudhury, Sidharth Gupta and Kadam Jeet Jain in 2015.
At present, the company operates in 53 cities in India, and has more than 250 hotels and 6000 rooms, reads the company’s website.
