OfficeBanao raises $6 Mn in Seed Round
Workspace interiors platform OfficeBanao has raised $6 million in its seed round led by Lightspeed India Venture Partners. The startup was all bootstrapped until now.
OfficeBanao plans to deploy the funds to expand its headcount from the current 110 to 250-300 people by the end of the year, the company said in a press release.
Founded in January 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, the Gurugram-headquartered startup brings architects, contractors, designers, material suppliers, and even office furniture providers together under one umbrella, streamlining the process for clients.
Additionally, OfficeBanao is using newer technology to advance the interior design process for workspaces. By expediting the fulfillment of design requirements and streamlining operations, the platform also ensures a seamless experience for service providers.
OfficeBanao currently has customers in more than 15 cities, including in some of the untapped tier II cities of the country. Over the next few months, the startup is looking to expand to the top 25 markets. It also leverages platforms such as LinkedIn and Instagram to attract new customers in different markets.
Lightspeed Venture Partners raised its largest fund dedicated to India and Southeast Asia at $500 million in July last year. The Silicon Valley-headquartered venture capital firm, which has backed startups such as Oyo, Udaan, Sharechat, and Byju’s, has increased the size of its fourth India fund substantially from its previous corpus of $275 million in 2020. In 2023, it backed Zyod, BlueLearn, and Stable Money.
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