India: Coliving brand Isthara has raised fresh funding of US$10 million, led byDubai-based Eagle Investments.
The current funding round brings the brand’s total fund raise to around $21 million.
The brand, which currently operates in the coliving and institutional smart food court space, will deploy the new funds to expand its presence in the coliving sector. It also aims to bring its food offer to the B2C space by launching smart food courts across retail locations such as malls.
The funding will also be utilised to double bed capacity in the coliving and student accommodation segments to around 50,000 beds by 2025, and the company aims to achieve a 10X revenue growth in the next three years.
Founded in 2017, the company operates more than 24,000 beds across India. Through its coliving spaces, it provides “fully-furnished shared-living accommodation for working professionals and students, with a host of amenities paired with premium features”.
