Isthara acquires ‘Letsmobility’

Hyderabad, January 24, 2022: Co-living brand and Smart Food Court pioneer, Isthara Co-Living has acquired Letsmobility, a software product engineering company. Through this acquisition, Isthara aims to leverage Letsmobility’s private cloud-based microapps platform, Livet, to digitize operations and introduce advanced tech solutions in the highly fragmented co-living and institutional cafeteria sectors.

The acquisition of Letsmobility will enable Isthara to enhance their core technology by merging it with the proprietary machine learning framework developed by Letsmobility. Through the integration with the platform, Isthara will develop and advance into a pioneering Framework 2.0, which will enhance the digital interface of the company’s customer facing applications such as real time property discovery and booking, digital hassle-free issue resolution, hyper local social network for residents, and food discovery and ordering solutions. Additionally, the platform’s AI Powered suggestions, business reports and custom workflows will enable the company to improve efficiency and streamline operations. Within the next 6 months, all technological processes of Isthara will be operated through the new, enhanced Framework 2.0.

Speaking on the acquisition, Ligouri Godwin, Executive Director, Isthara Co-Living, stated, “The co-living sector and institutional cafeteria segment are highly fragmented, and customers are usually subject to several difficulties that arise due to the lack of a real-time and efficient technological solutions platform. The acquisition of Letsmobility will address this gap, with their disruptive platform and expertise in delivering effective tech solutions, which will add significant value to Isthara’s capabilities and offer a more complete service for the digital transformation of both verticals. By integrating with Letsmobility’s unique platform, we are accelerating the pace towards our vision of a world-class digitally-defined platform that can respond to the evolving needs of our customers”

According to Gaurav Sharma, Co-founder, Letsmobility, “At Letsmobility, we have always aimed to engineer high-impact tech solutions, accelerate growth and add tremendous value to brands in a rapidly changing ecosystem. By joining forces with Isthara, the products we develop will be in better use and will solve real world problems on a larger-scale. Our organization and Isthara share the same vision, and we are excited to work with the team to support their vision of bringing in a digital revolution to the co-living and institutional cafeteria sector.”

In September 2021, Isthara raised a fresh round of funding from existing investors JM Financial Private Equity, along with Dubai-based Eagle Proprietary Investments and a few family offices.