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Lifestyle hospitality brand Quorum Club has raised a non-series A round led by Gruhas, an investment firm co-founded by Zerodha co-founder Nikhil Kamath and Abhijeet Pai, president of construction machinery maker Puzzolana Group. The amount disclosed was raised.
Nikhil and Abhijeet acquired 5% stake in Quorum Club.
Other shareholders such as Alok Oberoi, Gurmeet Nihal Singh, Saber Advisors, Shon Randhawa, Sattva Group and Karanpal Singh also participated in this investment round.
The latest funding round includes future target markets in Bangalore, Goa and another sixth club in Delhi in the coming years. The company also aims to expand its coworking portfolio under the The Business Quarter (TBQ) brand, offering hospitality-focused working spaces co-located with clubs.
Vivek Narain, co-founder and CEO of Quorum Club, said: “As we look to expand our business, we are proud of Gruhas’ reputation in the capital markets and our growing presence in the media, entertainment and consumer businesses. “‘s recent focus will be further enhanced by our expansion efforts.” Additionally, Gruhas has a strong presence in Hyderabad and Bangalore, which are key markets for us. ”
Founded in 2018 by Vivek Narain and his wife Sonya Jehan, Quorum Club has three brands. Business Quarter co-working space. District 150, meeting and event venue. And Quorum is a membership club that requires a subscription.
It currently operates three clubs in Mumbai, Hyderabad and Gurgaon.
Abhijeet Pai, co-founder and partner at Gruhas, said: “We are delighted to invest in the vision of Quorum Club and Vivec as they embark on their next phase of growth. It occupies a unique position in the “Culture, wellness, community and design are at its core. With this differentiated positioning and diversification of income sources, they are poised to become meaningful players in the lifestyle, work and culture sectors. We believe.”
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