Isthara - Comprehensive Analysis Report

Summary

Isthara is a co-living and smart food court company established in 2017, aiming to revolutionize shared living spaces and the food court experience for university students and young executives. The company integrates technology to enhance its business operations in both sectors.

1. Strategic Focus & Objectives

Core Objectives

• To provide affordable, community-driven shared living spaces with modern amenities and well-designed interiors.

• To digitize food courts and cafeterias for educational institutions and corporations by acting as a technology partner and vendor aggregator.

• To expand its presence in the retail smart food-tech and co-living businesses.

Specialization Areas

• Co-living spaces for students and young professionals.

• Smart food court solutions using technology to enhance operational excellence.

• Technology integration for co-living and institutional cafeteria sectors.

Target Markets

• University students and young executives seeking affordable co-living spaces.

• Educational institutions and corporations looking to digitize their food courts and cafeterias.

• The co-living segment in Hyderabad, Bengaluru, Delhi NCR, and Chennai.

2. Financial Overview

Funding History

• Total funding: $21.2 million over 3 rounds.

• Series C round: $10 million raised on September 30, 2022.

• Led by Eagle Investments with participation from 6 investors.

• JM Financial Private Equity is a key institutional investor.

• Funds are intended to expand Isthara's presence in the retail smart food-tech segment and co-living sector.

• Goal to double bed capacity in co-living and student accommodation to 50,000 beds by 2025.

• Valuation as of October 19, 2022: ₹258Cr.

• FY23 operating revenue: INR 67.5 Cr, a 161% increase.

3. Product Pipeline

Key Products/Services

• Co-living Spaces:

• Shared living spaces with modern amenities and well-designed interiors.

• Target Market: Students and young professionals.

• Goal: To increase bed capacity to 50,000 by 2025.

• Smart Food Courts:

• Technology-driven food court solutions for educational institutions and corporations.

• Target Market: Educational institutions, corporations, and food entrepreneurs.

• Goal: To scale the food court business to 500 food courts across 30 cities in the next 3 years.

4. Technology & Innovation

Technology Stack

• Livet: Letsmobility's private cloud-based microapps platform to enhance Isthara's core technology.

• Machine learning framework from Letsmobility for advanced tech solutions in the co-living and institutional cafeteria sectors.

5. Leadership & Management

Executive Team

• Gilbert James Lourduraj: Managing Director and Founder.

• Vijayan Krishna Kumar: CEO and Co-Founder.

• Kripa Lakshmi: CFO.

• Ligouri Godwin: CTO.

• Feroz Khan: CFO.

• Swarna Kumar: VP Operations.

6. Competitive Analysis

Major Competitors

• Abuzz Oxfordcaps

• Overview: Competitor in the co-living space.

• ZoloStays

• Overview: Competitor in the co-living space.

• Colive

• Overview: Competitor in the co-living space.

7. Market Analysis

Market Overview

• Isthara manages over 24,000 beds across Hyderabad, Bengaluru, Delhi NCR, and Chennai

• Isthara is the largest co-living player in Hyderabad, with approximately 7,000 beds in co-living across India.

8. Strategic Partnerships

Isthara has partnership opportunities across 50+ locations and is extending invitations to food entrepreneurs, restaurant chains, and food brands to collaborate with them.

9. Operational Insights

• Isthara aims to differentiate itself by offering a branded co-living experience at a premium rent compared to unbranded players.

• Emphasizes technology, amenities, and community to enhance customer experience.

10. Future Outlook

Strategic Roadmap

• Plans to expand its food court business to 500 locations.

• Focused on leveraging technology to transform the co-living and food court sectors.

• Increase co-living bed capacity to 50,000 by 2025.