91Squarefeet, a Gurugram-based construction-tech startup, has raised $10 million in a Series A round led by Stellaris Venture Partners.

Existing investors, including US-based Y-Combinator, Betatron Venture Group, a Hong Kong-based investment firm, and a few angel investors, also participated in the funding round.

As per the startup, the raised funds will be used to strengthen on-ground service and further develop the product, among other things.

91Squarefeet | Construction-tech Startup

Founded by Amit Bansal, Puneet Bansal, and Amit Mishra in 2019, 91Squarefeet uses its advanced AI Driven Technological systems to navigate the myriad of possible challenges involved in opening a retail store.

Run by Vonken Brandtech Pvt Ltd, the Gurugram-based construction-tech startup is revolutionizing retail expansion & space transformation and enables retailers to build new retail stores and maintain existing ones without an in-house projects team. 

Speaking about the development, Amit Bansal, Co-founder and CEO of 91Squarefeet, 

“We want to be able to cater to many more brands and help them set up stores and create a platform with the lowest friction. Anyone should be able to come and get a transparent construction deal.” 

91Squarefeet initially started as an aggregator of branding workshops and later pivoted to a digital platform that brands could use to expand their retail presence.

Currently, 91Squarefeet has a network of over 600 factories and contractors and claims to have developed 700 stores. It has worked with clothing brand Van Heusen, omnichannel furniture player PepperFry, OYO, and more than 40 other firms. 

Speaking about organised retail, Rahul Chowdhri, Partner at 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.”

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