Lifestyle Hospitality Brand Quorum Club Raises Pre-Series A Funding from Gruhas With the latest funding round, Quorum Club's upcoming target markets include Bengaluru, Goa, and another sixth club in Delhi over the next few years. It is also looking to expand its co-working portfolio under The Business Quarter (TBQ) brand.
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Lifestyle hospitality brand Quorum Club has raised an undisclosed amount in pre-series A round led by Gruhas, an investment firm co-founded by Zerodha cofounder Nikhil Kamath and construction equipment manufacturer Puzzolana group president Abhijeet Pai.
Nikhil and Abhijeet have acquired a 5 percent share in The Quorum Club.
Other stockholders, such as Alok Oberoi, Gurmeet Nihal Singh, Sabre Advisors, Shon Randhawa, Sattva Group, and Karanpal Singh, also took part in the investment round.
With the latest funding round, its upcoming target markets include Bengaluru, Goa, and another sixth club in Delhi over the next few years. In addition, it is also looking to expand its co-working portfolio under The Business Quarter (TBQ) brand, offering hospitality-first working spaces co-located with its clubs.
Vivek Narain, Co-founder and CEO, Quorum Club, said, "As we look to scale our business, Gruhas' reputation in the capital markets and their recent focus on the media, entertainment and consumer businesses will be accretive to our efforts to build a lifestyle hospitality platform. Furthermore, 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, a coworking space; District 150, a venue for meetings and events; and Quorum, a membership-only club that requires a subscription.
At the moment, it operates three clubs in Mumbai, Hyderabad, and Gurgaon.
Abhijeet Pai, Co-founder and Partner, Gruhas, said, "We're pleased to have invested with The Quorum Club and Vivek's vision as they are embarking on the next phase of growth. The Quorum and district150 are uniquely positioned between hospitality, art & culture, wellness, community, and design at its core. With this differentiated positioning and diversified income streams, we believe they are poised to become a meaningful player in the lifestyle, work and culture space."
