Treebo Cofounder Rahul Chaudhary joins VC Matrix Partners India
Rahul Chaudhary, the cofounder of Treebo Hotels, has joined venture capital firm Matrix Partners India.
The venture capital fund was an early investor in Ola, a ride-hailing and electric vehicle company, as well as Razorpay, a digital payments provider, and Dailyhunt, a short-video player.
As a Matrix India venture partner, Chaudhary will focus on early-stage investments, particularly seed to Series A startups.
“Let’s see what this VC thing is all about then. Excited to be joining the team at Matrix Partners. Hoping to be the kind of investor I’ve respected as a founder – honest, empathetic and all-in,” Chaudhary said on microblogging platform Twitter.
In June of last year, Chaudhary joined the advisory board of the budget hotel aggregator he cofounded in 2015 with Sidharth Gupta and Kadam Jeet Jain. He remains on the Treebo Hotels board of directors.
Matrix Partners India was an early backer of Treebo Hotels, investing in the company in several rounds beginning in 2015.
Bennett Coleman & Company Limited (BCCL), the publisher of The Times of India and its subsidiaries, is also a shareholder in Treebo Hotels.
Treebo had raised $16 million by June 2021, led by French hospitality giant Accor. Accor’s investment was part of a larger partnership in which Treebo would deploy its hotel management software in various Accor hotels around the world.
Treebo’s main competitor is SoftBank-backed Oyo, which has announced plans to go public.
ET reported on June 21, last year, Matrix Partners was expected to raise a $450 million India fund.
This is the VC firm’s fourth India-focused fund, which will back startups in India and South Asian markets. It comes at a time when peers such as Accel, Sequoia India, and Elevation Capital have all announced new funds.
Matrix previously raised $300 million in capital in 2019.
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