Isthara raises $10 million in fresh funding round to expand presence in the retail food-tech segment
Summary
The current funding round brings Istharas total fund-raise to about $21 million.Isthara, which currently operates in the co-living and institutional smart food court space, will deploy the new funds to foray into the B2C retail food court space and expand its presence in the co-living sector. Additionally, with the companys foray in to the B2C food retail segment, it will also be able to widen the customer base potential and not be limited by a captive audience as is the case with institutional cafeterias. Additionally, the funding will also be utilized to double bed capacity in the companys co-living and student accommodation segments to around 50,000 beds by 2025, and the company aims to achieve a 10X revenue growth in the next 3 years.Founded in 2017, Isthara, placing tech at the core of its business, has been revolutionizing the co-living segment by providing fully-furnished shared-living accommodation for working professionals and students, with a host of amenities paired with premium features. "In September 2021, Isthara raised funding from existing investors JM Financial Private Equity, along with Dubai-based Eagle Proprietary Investments. We seek to be a value-add investor by devoting a significant amount of time understanding the needs of our portfolio companies and working closely alongside management teams to drive strategic, operational and financial growth.