Luxury Home Developer Isprava Raises 130 Million USD In Funding
The Isprava Group (Isprava and Lohono Stays) has raised USD 130 million in a recent funding round led by marquee family offices including the Nadir Godrej Family Office, the Burman Family Office and others. The capital has been raised as a combination of corporate-level equity and project level equity. With this round of growth capital, both companies (Isprava and Lohono Stays) will continue to drive tremendous growth across their business verticals. The Isprava Group, founded by Nibhrant Shah, Dhimaan Shah and Rohan Lamba, currently operates two companies - Isprava and Lohono Stays. Isprava is India’s leading non-urban, luxury home developer. Over the past six years, Isprava has grown exponentially by creating some of India’s most sought after luxury homes in non-urban locations. The Company has over 110 projects worth ~USD 200mn spread across Goa, Alibaug, the Nilgiris and Kasauli. Lohono Stays is India’s fastest growing luxury homestay and hospitality company. The Company currently has over 105 properties in India spread across 15 locations and over 250 properties in South East Asia (Bali, Phuket, etc). Lohono Stays has been growing at a rate of 150% YoY and has been adding 15-20 new properties to its exclusive platform every month. Speaking on the occasion Nibhrant Shah, Co-founder and CEO, Isprava Group, said, “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.” Dhimaan Shah, Co-founder and COO, Isprava Group, further added, “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 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. Sharing his thoughts on the funding, Aditya Burman, Director, Dabur India Ltd revealed, “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.”
Tags : Luxury Home Developer Isprava 130 Million USD Funding Dhimaan Shah Co-founder and COO Isprava Group Nibhrant Shah Co-founder and CEO Isprava Group Goa Alibaug the Nilgiris Kasauli Lohono Stays