[Funding alert] Luxury home developer Isprava raises $130M as growth capital
The Isprava Group, the parent company ofand Lohono Stays, has raised $130 million in a funding round led by marquee family offices including the Nadir Godrej Family Office, the Burman Family Office, and others.
The growth capital has been raised as a combination of corporate level equity and project level equity. With this round, both Isprava and Lohono Stays will continue to drive tremendous growth across their business verticals, said the company in press statement.
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.”
Founded in 2013 by Nibhrant Shah, Dhimaan Shah and Rohan Lamba, The Isprava Group operates two companies — Isprava and Lohono Stays.
Isprava is a non-urban, luxury home developer with over 110 projects worth more than $200 million spread across Goa, Alibaug, the Nilgiris, and Kasauli.
Lohono Stays is a luxury homestay and hospitality company and has over 105 properties in India spread across 15 locations and over 250 properties in South East Asia (Bali, Phuket, etc). It claims to have a growth rate of 150 percent year-on-year and has been adding 15-20 new properties to its exclusive platform every month.
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 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.
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.”