91Squarefeet, a commercial fit-out company, is gearing up for expansion in Pune, Hyderabad, Ahmedabad, and Chennai, intending to invest Rs 5 crore in each city. The company aims to onboard over 50 architects and project managers in each location. Expansion is scheduled to commence in the upcoming quarter (January-March 2024), beginning in Pune and Hyderabad. Subsequently, the emphasis will shift to Ahmedabad and Chennai in the latter part of the year.
Founded in 2019 by Amit Bansal, Amit Mishra, and Puneet Bansal, 91Squarefeet initiated its business with an initial capital infusion of about Rs 50 lakh. Over the years, the company has experienced remarkable growth, boasting a 300% year-on-year growth rate for the past three years. In FY 2022-23, its revenue reached Rs 55 crore, and it anticipates achieving a revenue milestone of Rs 130 crore in FY 2023-24.
The company's growth journey has been supported by funding totaling $11 million. This includes a $1 million seed investment from Kunal Shah and Nikhil Vora (Sixth Sense) in December 2021, as well as a $10 million series-A round from Y-Combinator, Stellaris, and Betatron in August 2022. Currently, 91Squarefeet boasts a team of 250 professionals, including 30 architects and 150 project management experts.
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