Treebo Hotels raised $6 mn from its existing investors Matrix Partners India, SAIF Partners, Ward Ferry & Bertelsmann India Investments
This will help the company strengthen its defences against the Covid-19 pandemic, which has had a severe impact on the travel sector, it would also use the funding to continue building technology products for its businesses.
Last year, it had launched a SaaS business under the brand name ‘Hotel Superhero’, to monetize its technology by selling it to other independent hotels and chains. Treebo said the current fund raising will partly be used to fund this technology development as well.
Pankaj Makkar, managing director, at Bertelsmann India Investments said Covid gives an opportunity to the company to continue innovating in technology. Treebo said it has launched a programme called Treebo Hygiene Shield to tighten its safety protocols following the pandemic.
Treebo has a portfolio of over 600 hotels in over 100 cities.