ISTHARA attracts additional investment from marquee investors

HYDERABAD, India, Dec. 1, 2021 /PRNewswire/ -- ISTHARA is a pioneering LivTech aggregation platform focussed on Shared living spaces, Smart food courts and Cafeterias, has raised a fresh round of capital amidst stellar growth in its portfolio of managed beds over the last twelve months, despite the pandemic impact. The latest fundraise will help the Company to capitalize on the growth momentum and further bolster its leadership position in the co-living and student housing sector in India.
ISTHARA attracts additional investment from marquee investors
The COVID-19 crisis dealt a severe blow to the co-living and student housing industry with reverse migration of workers and students alike. Existing operators were forced to relook at their business models, cut costs, downsize, or shut shop completely. ISTHARA on the other hand was able to successfully modify its business model. As a result, it continued with the pace of its growth through the pandemic. The Company increased its bed count by 3x, from ~5,700 at the end of Mar'20 to ~17,000 currently, across four cities: Hyderabad, Bengaluru, NCR and Chennai. Supported by its technology backbone, ISTHARA also added a new business segment a?? smart food courts a?? under which it assumes the role of the technology partner and vendor aggregator to help large educational institutes and corporates to digitize their food courts / cafeterias for more efficient management. The segment has witnessed excellent traction since it was introduced in Feb'21, and the company has already signed up 50 food courts across Telangana, Karnataka and Tamil Nadu, catering to over 150,000 students. This tech driven vertical is asset-light, highly scalable, and has huge potential going forward even across smaller cities in India.ISTHARA has grown in a highly capital-efficient manner with a strong focus on unit-level economics. This is particularly evident when benchmarking the Company against its key competitors. ISTHARA is promoted by serial entrepreneur Gilbert James who has extensive experience in operationally intensive businesses across hospitality and education through his previous ventures. The operations team is headed by hospitality veteran Vijayan Krishna Kumar who has deep domain expertise through more than two decades of global hospitality experience. Technology is headed by IT solutions expert Ligouri Godwin, and growth by serial entrepreneur Raamkumar. Under their guidance, ISTHARA has displayed both the agility of a startup and the providence of a large, established enterprise, enabling the Company to strengthen its position in a period of massive disruptions.
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