Isprava Group, which operates Isprava and Lohono Stays, has raised $130 million in a funding round from marquee family offices including Nadir Godrej, and Burman, among others.
The startup said the growth capital has been raised as a combination of corporate-level equity and project-level equity.
The startup also said in the press statement that with this round, both Isprava and Lohano Stage will see tremendous growth in their business segments.
“We have witnessed exponential growth for both Isprava and Lohono Stays in the last few years. These funds raised will help us further delight our customers, scale both businesses and build out our tech stack. We are excited to continue to grow both companies and ensure that they continue to be loved by their customers”, said, Nibhrant Shah, Co-founder and CEO, Isprava Group.
The Isprava Group was founded in 2013 by Nibhrant Shah, Dhimaan Shah and Rohan Lamba, it operates two companies -Isprava and Lohono Stays.
Isparva is a non-urban, luxury home developer company. It has over 110 projects worth $200 million spread across places like Goa, Alibaug, Nilgiris and Kasauli.
Lohono Stays is a Luxury Homestay and Hospitality company. It has over 105 properties in India and is spread across 15 locations and over 250 properties in Southeast Asia (Bali, Phuket, etc.).
“The demand for luxury real estate and unique experiences among HNIs has grown exponentially over the last several years. Both Isprava and Lohono Stays have firmly established themselves as the category leaders in their respective industries. We believe the market for both these businesses is going to expand rapidly and we have built a solid foundation on which both the companies are ready to grow even more exponentially over the next several years”, said, Dhimaan Shah, Co-founder and COO, Isprava Group.
“Isprava and Lohono are redefining luxury second homes and hospitality in India. They have managed to execute flawlessly and that too at scale. They are well positioned to capture market share across India and continue to grow exponentially. We, as a family, are thrilled to have been a part of this journey as investors”, said, Aditya Burman, Director, Dabur India Ltd.