Isprava Raises 21 Crores in Second Fundraise
Isprava, a company that develops luxury holiday homes in India, is pleased to announce it’s second fundraise, of Rs. 21 crores (over USD 3 million), executed in April 2018. With this, the total capital raised by the firm in the last 12 months stands at about Rs 70crores (over USD 10 million). Leading the second round are the Godrej Family officeandAnandPiramal, who were also involved in Isprava’s first fund raise, in March 2017.
Buoyed by this fundraise, Isprava plans to develop more luxury holiday homes across the country. The company, which already has a strong presence in Goa and the Nilgiris, is now looking to expand to locations as diverse as Alibaug, Pondicherry, Dehradun, and Sri Lanka.
Talking about the fundraise, Nibhrant Shah, Founder and CEO, ISPRAVA said, “We are delighted to once again have the support of some of our key anchor investors who have been integral to the Isprava journey so far. Their backing allows us to further our company’s vision, which is to become the leader in the luxury hospitality and high-end holiday home space. Our discerning clientele is growing, and we look forward to adding to that roster, as we expand into new markets.”
Each Isprava home is designed by leading international designers, fully furnished using antique furniture sourced from old palaces and mansions and is maintained by Isprava’s property management team on behalf of the owners. Additionally, Isprava also offersrental management as an optional service. They believe true luxury stems from exclusivity and hence, each home has its own story.Ispravabuyers include the founders/promoters of Infosys and SpiceJet, celebrities and famous sports personalities, among others.