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India’s Treebo Hotels raises $17 million for its budget hotel network

Budget hotel aggregators were one of the breakout startup ideas of last year, particularly in India. Hype around the industry has quietened down this year but there’s a big round today: Treebo Hotels has raised $17 million led by Bertelsmann India Investments with participation from existing investors SAIF Partners and Matrix Partners India.

 Founded in June 2015 initially as Zipotel, Bangalore-based Treebo is a ‘tech-powered’ budget hotel aggregator that provides a standard of accommodation across a network of partner hotels in India, for example clean linen, bedding, free WiFi etc. Typical room cost is between $15 and $50. It sounds basic to Western standards but, as anyone who has ever traveled off the beaten path in Asia can testify, many of these things are often missing — and that can be very painful.

 It’s much the same as the model pioneered by OYO Rooms, a popular startup that has raised over $125 million from the likes of SoftBank.

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