A $4 million Series A round led by the Manipal Education & Medical Group (MEMG) Family Office has been secured by boutique hotel Brij Hotels. Abhay Jain, Prashant Deshpande, Rajendra Rao, Abhiroop Jayanthi, MD of Bain Capital, and other high net worth individuals participated in the company’s new funding.
Brij Hotels said in a press release that it intends to use the money raised for strategic expansion and to bolster its position in the cutthroat hospitality sector.
Brij, a group of hotels founded in 1991 by Udit and Anant Kumar, prioritizes sustainability while providing hyperlocal experiences. It emphasizes sustainability by minimizing environmental impact through the zero-kilometre concept.
As per the Delhi-based company, its portfolio comprises eight hotels that are currently in operation at popular tourist destinations. These hotels are committed to fostering a connection between luxury and location through their dedication to sustainability. According to the company, it works with property owners through revenue-sharing arrangements and employs an asset-light business model.
