Isthara Raises $10 Million In Fresh Funding Round The fund raised will be utilized to double bed capacity in the co-living and student accommodation segments to around 50,000 beds by 2025
By Teena Jose •
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Isthara, India's co-living brand and smart food court pioneer has raised fresh funding of $10 million led by Dubai-based Eagle Investments. The current funding round brings Isthara's total fund-raise to about $21 million. The fund raised will be utilized to double bed capacity in the co-living and student accommodation segments to around 50,000 beds by 2025.
"We are delighted to raise a fresh round of funding as we continue our endeavour to revolutionize the highly fragmented co-living and food court segment. We believe that the food court segment, and the co-living sector, will undergo a massive digital transformation in the coming years, and we aim to be the pioneers of a tech-enabled LivTech segment that solves the most basic issues of urban millennials," said Gilbert James, promoter and managing director of Isthara.
While Isthara has witnessed immense growth in the B2B institutional cafeteria segment, the company aims to replicate this business success in the B2C space by launching smart food courts across retail locations. Isthara aims to scale the food court business by 10 times to 500 food courts across 30 cities in the next 3 years, catering to a million people on a monthly basis to achieve a 10 times revenue growth in the next 3 years, claimed by the company in a statement.
"With a rise in safety and hygiene concerns since the pandemic, we are seeing a fundamental shift as customers across the spectrum are increasingly opting for tech-enabled and safety focused co-living and food options. With its unique business model, tech-focused solutions, and strong scalability potential, Isthara is poised to disrupt the co-living and retail food court segment, and we are excited to support the company's next growth phase as it continues to make new strides in the Liv-Tech segment," Elias Kawar, managing director of Eagle Investments.
