Treebo Group of Hotels, the Bengaluru-based technology-enabled chain of budget hotels, has raised Rs.112 crore in its Series B funding round led by Bertelsmann India Investments (BII). It also saw participation of existing investors, SAIF Partners and Matrix Partners India. The company plans to use the funds for furthering its expansion, strengthening its marketing outreach and reinforcing its technology leadership in the sector. Founded in 2015 by Sidharth Gupta, Rahul Chaudhary and Kadam Jeet Jain, Treebo currently has 125 hotels in 25 cities across the country in its network, making it the largest hotel chain in the sub 4-star category.
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