91Squarefeet Raises Pre-seed Funding From Omphalos Ventures, Others
91Squarefeet, a retail store development startup, has raised $1 million (around Rs 7.5 crore) in pre-seed funding round from Omphalos Ventures India, Nikhil Vora of Sixth Sense Ventures, and actor Rannvijay Singh Singha, among others.
As per the startup, the raised funds will be used in upgrading its capacity to handle 500 stores a month kind of business volume over the next 12 months. Additionally, the startup plans to focus on driving tech adoption amongst the supplier base.
91Squarefeet | Revolutionizing Retail Expansion & Space Transformation
Founded by Amit Bansal, Puneet Bansal, and Amit Mishra in 2018, 91Squarefeet (formerly Rolling Banners) is revolutionizing retail expansion & space transformation and enables retailers to build new retail stores and maintain existing ones without an in-house projects team.
The startup uses its advanced AI Driven Technological systems to navigate the myriad of possible challenges involved in opening a retail store. As per Amit Bansal, 91Squarefeet competes with unorganised contractors and agencies.
91Squarefeet has a diverse network of reliable and cost-effective suppliers spread across the country and a proven track record to help save you both time and money.
The retail store development startup claimed to have built a project management platform where brands can collaborate with the suppliers of retail fit-outs and speed up their expansion.
As per Nikhil Vora, Founder and CEO of Sixth Sense Ventures, the biggest opportunity in India is all about the shift from unorganised, fragmented and non-transparency to an organised, consolidated and transparent platform.
To date, 91Squarefeet has developed over 500 outlets for 20 brands across 22 states in India. With clients like Bridgestone, Yokohama, DHL, TATA, Chaipoint, CEAT, Pepperfry, among others, 91Squarefeet is currently building over 40 outlets month-on-month basis.
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