News on Medial

Brij Hotels raises $4 Mn in Series A funding round

Entrackr · 8m

Boutique hotels Brij Hotels has picked up $4 million in Series A round co-led by the Manipal Education & Medical Group (MEMG) Family Office. High net worth individual investors including Abhay Jain, Bain Capital MD Abhiroop Jayanthi , Rajendra Rao, and Prashant Deshpande also joined the company’s new financing. The company plans to utilise the proceeds for strategic expansion and strengthen its presence in the competitive hospitality industry, Brij Hotels stated in a press release. Founded in 1991 by Udit Kumar and Anant Kumar, Brij is a collection of hotels that offer hyperlocal experiences, all while prioritising sustainability. It lays emphasis on sustainability with the zero-kilometre concept minimising environmental impact. According to the Delhi based company, its portfolio includes eight operational hotels at tourist destinations which are dedicated to create connection between luxury and locale by commitment to sustainability. The company says that it operates as an asset-light model and engages in revenue-sharing agreements with property owners.