In­dia sotheby’s in­ter­na­tional realty raises $5.5 mil­lion

Realty Plus - - News -

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.

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