India Hotel Network Treebo Raises $34 Million: Travel Startup Funding This Week
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Travel startups raised more than $72 million this week. The most promising of these is Treebo, which is banking on branded hotel networks as a niche in India.
Each week we round up travel startups that have recently received or announced funding. The total raised this week was more than $72 million.
>>Treebo Hotels, a branded budget-hotel company, has raised $34 million in a Series C funding round, led by Hong Kong-based investment firms Ward Ferry Management and Karst Peak Capital.
The round brings its total fundraising to $57 million. Also participating in the round are past investors SAIF Partners, Matrix Partners India, and Bertelsmann India Investments.
Bangalore-based Treebo Hotels is a budget hotel aggregator, with about 300 participating hotels operating in more than 50 cities. It is not a chain with franchisees in the sense a Marriott has. It instead is a booking site that asks hotels to meet certain minimum standards of amenities, such as branded toiletries and free Wi-Fi, in exchange for leads.
Treebo does not get the same media attention as Oyo Rooms, another hotel aggregator, which has rece
