News on Medial

Nikhil Kamath-backed Gruhas picks up 5% stake in The Quorum Club

Entrackr · 1y ago

Medial

Lifestyle hospitality platform The Quorum Club has raised an undisclosed amount of investment in a pre-series A round led by Gruhas. Gruhas is an early stage investment firm floated by Zerodha’s co-founder Nikhil Kamath and Puzzolana’s Abhijeet Pai. Gruhas has acquired a 5% stake in the Gurugram-based company. The Quorum Club plans to allocate the funds towards expansion, make forays into different territories across India, it said in a press-release. Co-founded in 2018 by Vivek Narain and Sonya Jehan, Quorum Club is a lifestyle hospitality brand which runs three brands: The Quorum, district 150 and The Business Quarter. The company has gained ground in the corporate, startups and investors space with its The Quorum branch in One Horizon Centre (Gurugram). According to the firm, it has announced its third club back in 2022 and integrates lifestyle into the work routine. The platform claims that it is expanding its co-working portfolio, under the brand name – The Business Quarter (TBQ), which are hospitality-powered spaces that are being co-located to its clubs. Quorum Club also says that The Quorum Hyderabad will feature a 110-seat premium co-working facility and its Mumbai branch is being stretched to 451 seats. Gruhas deals in equity and debt investments across segments including proptech, cleantech, media and entertainment sectors. The firm co-led its maiden investment worth Rs 9.25 crore in Shark Tank famed direct-to-consumer (D2C) innerwear brand Bummer. The fundraise was exclusively reported by Entrackr on March 8.