Treebo Hotels today announced that it has raised INR 10 Crore from a group of angel investors including Vijay Shekhar Sharma, founder & CEO of Paytm, Jaydeep Barman, co-founder & CEO of Rebel Foods (Faasos), Deepak Parayanken, Managing Director of Mozambique Holdings. This investment comes close on the heels of an investment of INR 45 Crore raised by the company recently from existing investors.
The angel round was led by Deepak Parayanken, Deputy Managing Director of Mozambique Holdings, a diversified conglomerate headquartered in Mozambique, with 1,400 employees and about $100mn in turnover. The Parayanken family office owns five hotels in the US, operating under brands like Holiday Inn and Hyatt. The group also has business interests across power, utilities, defense, auto, and pharma sectors in Mozambique.
Commenting on the investment, Deepak Parayankensaid, “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 monetisation to hotel owners in the budget segment is also something that has global potential.”
Shantanu Deshpande, co-founder & CEO of Bombay Shaving Company, Siddharth Velakacharla, Partner at Indus Capital Partners, Gautam Gurnani, Vice President, Investments at Dubai Holding, along with several senior executives from McKinsey, Amazon and Microsoft, participated in this round.
Commenting on the investment, Sidharth Gupta, Co-founder, Treebo said, “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.”
Treebo 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 company is running a program called Treebo Hygiene Shield to tighten its safety protocols in the face of COVID. All operational hotels of the company are regularly audited on their compliance of COVID related safety standards and are accordingly given a gold or platinum hygiene shield rating on the website. Treebo has a portfolio of 600+ hotels in 100+ cities.