OfficeBanao, a workspace interiors startup, has secured $6 million in seed funding from Lightspeed, a leading multi-stage venture capital fund. The startup leverages technology to provide an end-to-end solution for office development, covering design, procurement, and execution.
With the new capital and partnership, OfficeBanao aims to strengthen its platform in technology and team capabilities, especially in design and growth.
Founded in January 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, OfficeBanao provides a platform for designers, architects, contractors, office furniture, and material suppliers to offer a wide range of commercial interiors.
The startup serves small office projects worth Rs 10 lakh to large offices and enterprises as high as Rs 5 crore or more. In a short span of time, OfficeBanao has expanded to more than 15 cities across India, and it aims to enable small business owners and startups to create productive and aesthetically pleasing workspaces.
According to Tushar Mittal, Founder, and CEO of OfficeBanao, the workspace interiors sector is unorganized, opaque, and under-served, and only a tech-led approach can deliver a delightful experience to workspace owners. The startup plans to use investment in technology, supplier ecosystem, product platform, and team to build a profitable venture.
Over the next few months, OfficeBanao will focus on establishing a deeper on-ground presence in the top 25 markets and cater to customers ranging from small to mid-sized businesses and large enterprises. The startup will also invest in customer success and a strong ecosystem of execution partners, empowering them with technology, procurement, and processes.
Rahul Taneja, Partner at Lightspeed, believes that OfficeBanao is best placed to disrupt the existing opaque and sub-par experience that plagues the workspace interiors industry today.
With an interactive visual design process and linked visibility of costs and budgets, OfficeBanao has reduced the time it takes to complete designs from three weeks to just one day, providing a seamless journey for customers and service providers alike.
With the help of OfficeBanao and his experience, Tushar Mittal now wants to empower entrepreneurs in the office interior ecosystem across a multitude of service offerings and geographies. The startup’s innovative approach to workspace interiors has the potential to change the way workspaces are developed in India.