Bengaluru-based chain of hotels Treebo Hotels on Friday raised about $16.7 million in Series B round of funding led by Bertelsmann India Investments. Existing investors SAIF Partners and Matrix Partners India also participated in the round. Founded in 2015 by Sidharth Gupta, Rahul Chaudhary and Kadam Jeet Jain, the hotel chain currently has presence in 22 Indian cities.