Luxury home developer: Isprava raises $130M as growth capital via Burman Family Office, others
- ByStartupStory | April 11, 2022
The parent company of Isprava and Lohono Stays, the Isprava Group, has raised $130 million in a funding round led by marquee family offices including the Burman Family Office, and others.
As a combination of corporate level equity and project level equity, the growth capital has been raised. Both Isprava and Lohono Stays will continue to drive tremendous growth with this round, across their business verticals, said the company in a press statement.
Nibhrant Shah, Co-founder and CEO, Isprava Group, said that in the last few years they have witnessed an exponential growth for both Isprava and Lohono Stays. These funds raised will help them further delight their customers, scale both businesses and build out their tech stack. They are excited to continue in order to grow both companies and ensure that they continue to be loved by their customers.
The Isprava Group, founded in 2013 by Nibhrant Shah, Dhimaan Shah and Rohan Lamba, operates two companies — Isprava and Lohono Stays.
Isprava is a non-urban, luxury home developer worth more than $200 million with over 110 projects spread across Alibaug, Goa, the Nilgiris, and Kasauli.
Lohono Stays is a luxury homestay and hospitality company. It has over 105 properties spread across 15 locations and more than 250 properties in South East Asia (Bali, Phuket, etc) in India. To have a growth rate of 150 percent year-on-year has been claimed by it and to its exclusive platform every month, it has been adding 15-20 new properties.
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