Retail store development company 91Squarefeet has raised $10 million in Series A round by Stellaris Venture Partners with participation from its existing investors Y Combinator, Betatron and other angel investors.
Entrackr had exclusively reported this development last week.
The funding will be used to strengthen 91Squarefeet’s on-ground service muscle, product development and deepen its engagement with its supplier network, the company said in a press release.
Founded in 2019 by Amit Bansal, Amit Mishra and Puneet Bansal, 91Squarefeet enables retailers to set up new retail stores and maintain existing ones without an in-house projects team. The company has delivered 700 projects for over 40 retailers including Reliance Retail and Tata Group.
Gurugram-based 91Squarefeet claims to have a network of 700 suppliers across spectilations such as retail fitouts, branding and civil work in 180 cities. The company has set a target to work on over 2,000 stores in the ongoing fiscal year (FY23) and aspires to develop 20% retail expansion in major markets.
In January this year, the company had raised $1 million in a pre-seed funding round from Omphalos Ventures, Nikhil Vora and others. It was also a part of the famed Y-Combinator winter 2022 cohort.
