Bengaluru-based hotel chain Treebo Hotels announced the closure of its Series D investment round, whereby it has raised Rs 118 Cr (approximately $16 million) from a group of investors led by Accor, a world leader in hospitality.
The round also saw participation from Bennett Coleman & Company Limited (BCCL), Deepak Parayanken - Deputy Managing Director of Mozambique Holdings, who invested in his personal capacity - and the company’s existing investors, Elevation Capital, Matrix Partners, Bertelsmann, and Ward Ferry.
The investment by Accor is part of its broader partnership with Treebo under which the latter said it will deploy its cloud based, comprehensive hotel management software, called ‘Hotel Superhero’, at various Accor hotels worldwide. The software is already operational at a selection of Accor properties and will be rolled out to several others over the next few months.
