India Sotheby’s International Realty raises Series-A funding of Rs 37 crore
India Sotheby’s International Realty raises Series-A funding of Rs 37 croreIndia Sotheby’s International Realty, a luxury real estate advisory service provider, has secured $5.5 million (Rs 37.16 crore) in Series-A funding to fuel its expansion plans.
The capital infusion, by a Delhi-based ultra-high-net-worth individual, will be used to fund the art auction company affiliate’s expansion into Gurugram, Bengaluru, Kolkata, Pune, Goa and Sri Lanka, said a top executive of the company. These international offices will sell India luxury properties and will be controlled by India operations. The India franchise for Sotheby’s International Realty is owned by Realpro Realty Solutions (RRSPL).
PwC acted as the exclusive financial advisor for the deal with the investor, who is part of a Rs 1,000-crore diversified business group which is a major player in the country’s power solutions market. “The investment reinforces our confidence in making India Sotheby’s International Realty a formidable player in not just Indian luxury real estate, but the entire South Asia,” said Amit Goyal, founder of RRSPL.