Retail store development company 91Squarefeet (formerly Rolling Banners) has raised $1 million (around Rs 7.5 crore) in a pre-seed funding round from Omphalos Ventures India, Nikhil Vora of Sixth Sense Ventures, actor Rannvijay Singh Singha and VG-Angels, among others.
91Squarefeet has been picked for Y-Combinator’s W22 batch. It is also a part of Venture Garage’s portfolio of companies.
“The raised capital will be used in upgrading our capacity to handle 500 stores a month kind of business volume over the next 12 months. Driving tech adoption amongst the supplier base is going to be a focus area”, Amit Bansal, Co-Founder of 91Squarefeet said.
The company competes with other players in unorganised contractors and agencies, Bansal added.
Founded in 2018 by Amit Bansal, Amit Mishra and Puneet Bansal, 91Squarefeet enables retailers to build new retail stores and maintain existing ones without an in-house projects team.
It claimed to have built a project management platform where brands can collaborate with the suppliers of retail fitouts and speed up their expansion.
The company said has clients like Bridgestone, Yokohama, DHL, TATA, Chaipoint, CEAT, Pepperfry among others. the company is currently building over 40 outlets month-on-month basis. Till date, it has developed over 500 outlets for 20 brands across 22 states in India.
Nikhil Vora, Founder and CEO of Sixth Sense Ventures said, “The biggest opportunity in India is all about the shift from unorganised , fragmented and non-transparency to an organised, consolidated and transparent platform.”