Gurugram-based construction tech startup 91Squarefeet has raised $10 million in a Series A funding round led by Stellaris Venture Partners, with participation from existing investors, including US-based Y Combinator, Betatron Venture Group, and a few angel investors.
The startup plans to use the raised capital to strengthen on-ground service, product development, and deepen supplier engagement.
Founded in 2019 by Amit Bansal, Amit Mishra, and Puneet Bansal, The startup enables retailers to set up new retail stores and maintain existing ones without an in-house projects team. It claims to have a network of over 600 factories and contractors and has developed 700 stores.
Speaking on the investment, Rahul Chowdhri, Partner, Stellaris Venture Partners, said, “Demand for organised retail is growing, more so in Tier II and III cities. However, a majority of brands struggle to expand their offline presence and tap into this massive opportunity. High dependence on small, unreliable suppliers often create inefficiencies leading to a 20-25% higher cost of building a retail store along with several weeks of delay.”
Source @Indianstartupnews
