The Isprava Group, a luxury holiday home developer, backed by Nadir Godrej, Anand Piramal, and the Burman family of Dabur India, has raised nearly Rs 1,000 crore in its third round of fundraising, which was led by key investors comprising these existing marquee stakeholders.
The Nadir Godrej Family Office, the Burman Family Office, and others contributed significantly to the latest fundraising effort. Previously, the company raised funding in early 2017 and again in 2019.
The capital was raised through a combination of corporate and project level equity investments by the Isprava Group, including luxury house developer Isprava and luxury homestay company Lohono Stays.
“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 at Dabur India.
Both Isprava and Lohono Stays will continue to build their business verticals with this round of growth capital.
“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, CEO of Isprava Group.
“The demand for luxury real estate and unique experiences among high networth individuals (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, COO at Isprava Group.