OfficeBanao Bags $6 M In Seed Round Led By Lightspeed

The startup plans to deploy the all-equity seed funding and partnership from Lightspeed India Venture Partners to expand its headcount and to create technology-driven foundation

Lightspeed, a leading multi-stage venture capital fund has invested USD 6 million in seed funding in OfficeBanao. Founded by Tushar Mittal, the startup is a workspace interiors platform, transforming the entire office development experience using technology with an end-to-end solution across stages of design, procurement, and execution.

Founded in January 2022 by Tushar Mittal, and co-founded by Akshya Kumar, and Divyanshu Sharma, OfficeBanao is a platform for designers, architects, contractors, office furniture, and material suppliers providing an entire array of commercial interiors, starting from small office projects of at Rs. 10 Lac to large offices and enterprises, as high as Rs. 5 Crore and more. OfficeBanao is already present in more than 15 cities across the country in a short span of time and is focused on enabling small business owners and start-ups in their quest for productive and aesthetic workspaces.

“We’re thrilled to have Lightspeed as a partner early in our journey. Given our prior experience in the space, we observed that the experience of designing and developing an office, especially for a small-mid sized business is far from ideal. The sector is unorganized, opaque and so under-served, that we believe only a tech-led approach can help deliver delightful experience to workspace owners. Our belief is that with investment in technology, supplier ecosystem, product platform and a great team, we can build a very large and very profitable venture, as we have demonstrated in the past”, said Tushar Mittal, Founder and CEO, OfficeBanao.

Over the next few months, the start-up will also focus on establishing a deeper on-ground presence in top 25 markets, catering to customers from small-mid-sized businesses to large enterprises, investing in customer success and a strong ecosystem of execution partners, empowering them with technology, procurement and processes.

Rahul Taneja, Partner, Lightspeed said, “OfficeBanao is a mission driven company, committed to making a meaningful difference in how workspaces are developed in India. We are delighted to partner with them and are excited to see how they transform this market. With depth of experience and supplier network, the team is best placed to disrupt the existing opaque and sub-par experience that plagues the industry today. It is encouraging to see the early progress, the sustainable business model and most importantly, the customer delight they have delivered – and we look forward to their continued expansion”.

OfficeBanao transforms the entire interior design lifecycle of a workspace, with its user-friendly and transparent processes, enabled by a technology led experience never seen in the industry. Designs that would previously take three weeks, can now be done in a day with an interactive visual design process, and linked visibility of costs and budgets make the journey seamless for customers and service providers alike. With the help of OfficeBanao and his experience, Tushar Mittal now wants to empower entrepreneurs in the office interiors ecosystem across a multitude of service offerings and geographies.

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