Oyo’s Indian rival banks nearly $16m in round led by French hospitality major

Treebo Hotels, an Indian budget-hotel chain startup, has raised 1.18 billion rupees (US$15.8 million) in its latest round of funding.

More funding details

• Lead investor: Accor
• Returning investors: Elevation Capital, Matrix Partners, Bertelsmann, and Ward Ferry
• Stage: Series D

More company updates

• Accor’s investment is part of a broader partnership that will involve the deployment of Hotel Superhero, Treebo’s cloud-based hotel management software, at Accor hotels across the world.
• Hotel Superhero is Treebo’s software-as-a-service platform, which offers a suite of technology products for the hospitality industry that covers  property management, point of sale, distribution management, guest assist, materials management, housekeeping, meetings, and events management, among others.
• In October 2020, Treebo raised 100 million rupees (a little under US$1.4 million) in an angel round led by Deepak Parayanken, deputy managing director of Mozambique Holdings.
• Treebo competes against SoftBank-backed Oyo, which secured US$807 million in March 2020 from SVF India and RA Hospitality as part of a US$1.5 billion round.

Currency converted from Indian rupee to US dollar: US$1 = 74.32 rupees.

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