India sotheby’s international realty raises $5.5 million
India Sotheby’s International Realty, a luxury real estate advisory services provider, owned by Realpro Realty Solutions (RRSPL), has raised $5.5 million in a Series-a funding from an ultra-high-net-worth individual, the company said in a statement without disclosing the terms of the deal. The investor is reportedly a Rs 10-billion diversified business group, which is leading the power solutions market in India. Earlier this year, India Sotheby’s International Realty raised $2 million from a high net worth individual and last year it raised $6 million. In 2017, RRSPL acquired the license to become an exclusive franchise of Sotheby’s International Realty for India. The company recently made its first overseas expansion, by signing a 25-year exclusive franchisee license to operate Sotheby’s International Realty brand in Sri Lanka. The capital infusion will be used to fund the company’s expansion into Sri Lanka and other Indian markets, namely Gurgaon, Bengaluru, Kolkata, Pune and Goa.