OfficeBanao Secures $4 Million Funding for Expansion

OfficeBanao, a proptech startup located in Gurugram, has successfully raised nearly $4 million as part of a $7.7 million funding round, led by Lightspeed Venture Partners, with contributions from Mangum II and Medra Family. This funding round values the company at approximately $70 million post-money.

Utilisation of New Capital

The newly acquired funds will be instrumental in enhancing operations, fortifying the technology infrastructure, and scaling the platform to more cities.

About OfficeBanao

Founded in 2022 by Tushar Mittal, alongside Akshya Kumar and Divyanshu Sharma, OfficeBanao operates a technology-driven platform that focuses on commercial office interiors and workspace buildouts. The startup offers comprehensive services that encompass design, procurement, project management, and execution for both offices and retail environments.

Streamlined Workspace Creation

OfficeBanao’s platform integrates architects, contractors, designers, furniture vendors, and material suppliers into a cohesive system that oversees workspace development from planning and 3D design to sourcing and construction.

Project Range and Clientele

OfficeBanao addresses projects ranging from Rs 10 lakh to upwards of Rs 5 crore, catering to startups, SMEs, and large enterprises. The company reports successfully completing 200 projects across over 40 cities in India.

Revenue Growth Projection

The company’s revenue has experienced remarkable growth, increasing from Rs 22 crore in FY23 to Rs 138 crore in FY25, with an ambitious target of reaching Rs 225 crore in FY26 as it ventures into new markets.

Competitive Landscape

OfficeBanao faces competition from platforms such as Flipspaces and All Home, which are also developing technology-driven solutions for both office and home interiors.