[Funding Alert] Treebo Raises INR 10 Cr In Funding Led By Mozambique Holdings
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Treebo Hotels on Tuesday announced it has raised INR 10 crore in a funding round led by Mozambique Holdings managing director Deepak Parayanken with a group of angel investors including Paytm founder and chief executive officer Vijay Shekhar Sharma and Faasos co-founder and chief executive officer Jaydeep Barman. This investment comes close on the heels of an investment of INR 45 crore raised by the company recently from existing investors.
“As investors in the hospitality and real estate space ourselves, we understand the role that technology and a good brand play in the success of any hospitality business. Treebo has developed strong capabilities in both these areas. That's what attracted us towards the company. Their hotel management software, Hotel Superhero, is something that hotels of all sizes and shapes across the world can benefit from. Their unique playbook of providing quality assurance to customers and better monetization to hotel owners in the budget segment is also something that has global potential,” said Parayanken.
The startup has recently launched a SaaS business called Hotel Superhero under which it offers an integrated, cloud-based hotel management software to independent hotels and chains.
"The belief demonstrated by these investors—all seasoned business professionals themselves—in Treebo despite the current challenging times is precious for us. They are taking a bet on the long-term prospects and the strong fundamentals of the business, which is hugely encouraging. We are excited about not just their capital but also the valuable advice and guidance they can offer," said Treebo co-founder Sidharth Gupta, commenting on the investment.
The company is running a program called Treebo Hygiene Shield to tighten its safety protocols in the face of COVID-19. All operational hotels of the company are regularly audited on their compliance with COVID-19 related safety standards and are accordingly given a gold or platinum hygiene shield rating on its website.