Hospitality Brand Quorum Club Raises Pre-Series A Funding for Expansion
Summary
Quorum Club, a lifestyle hospitality brand, has made headlines by securing an undisclosed amount in a pre-series A funding round. The funding round was led by Gruhas, along with participation from other investors, including Gurmeet Nihal Singh, Shon Randhawa, Alok Oberoi, Sabre Advisors, Sattva Group, and Karanpal Singh.Founded by Vivek Narain and his wife Sonya Jehan in 2018, Quorum Club is a lifestyle hospitality firm that runs three brands: Quorum, a subscription-based members-only club; Business Quarter, a coworking space and District 150, a meetings and events space. Over the next five years, the lifestyle hospitality brand aims to expand its footprint by opening 6-7 such outposts in cities like Bengaluru, Delhi, and Goa.As per the firm, it has a current membership base of around 2,800 individuals, which includes high-profile entrepreneurs and c-suite executives. It also participates in special situation assets that can be disrupted through tech-powered solutions.Last year, Gruhas collaborated with Collective Artists Network to invest in a fund assisting and empowering young business people and startups in the consumer industry. As part of the collaboration, both firms intend to invest up to $1 million per agreement in at least 10 businesses.Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.