Construction tech startup 91Squarefeet raised $10 million in Series A funding round led by Stellaris Venture Partners where existing investors Y Combinator, Betatron and some other angel investors have also participated.
91Squarefeet assists retail companies in the establishment of physical stores. In essence, it constructs and renovates retail stores for various organisations. The new funds will be used to expand 91Squarefeet’s services, product development, and supplier engagement. The startup stated that it intends to simplify physical retail stores by developing an operating system for both building and managing the stores. 91Squarefeet claims to work with over 600 contractors and factories. It claims to have built over 700 stores for over 40 brands and to have a presence in over 230 Indian cities. According to a report, the country’s construction sector, which is worth $609.6 billion in 2021, will grow at a CAGR of more than 6% between 2023 and 2026.
