Workspace Interior Firm OfficeBanao Raises Fresh Funding
OfficeBanao, a Gururgam-based workspace interior firm, has raised an undisclosed amount in an angel investment round from Ajit Mohan (Hotstar), Ramesh Nair and Apurva Chamaria (Google India).
As per the startup, the freshly raised funds will be used to improve its technology-driven platform, accelerate product development, and expand its workforce.
OfficeBanao | Reimagining Office Interior Solutions
Founded by Tushar Mittal, along with co-founders Akshya Kumar and Divyanshu Sharma, in 2022, OfficeBanao is a platform for designers, architects, contractors, office furniture and material suppliers providing an entire array of commercial interiors.
The proptech startup claims to be revolutionising the journey of workplace design and execution by streamlining the process assisted by its proprietary in-house technology. It is focused on enabling small business owners and startups in their quest for productive and aesthetic workspaces.
Speaking about the development, Tushar Mittal, founder and chief executive officer of OfficeBanao, said,
“With the combined support of these investments, the recent partnership with Lightspeed, we aim to accelerate growth and to meet the increasing demand for workspace interior solutions.”
Leveraging its proprietary in-house technology, the startup provides effective space planning using AI, 3D walkthroughs, product selections with multiple options and real-time collaboration to enable customers to make quick and right decisions.
Claiming to have a presence across 15 cities in India, the startup works on small office projects of Rs 10 lakh to large offices and enterprises, as high as Rs 5 crore and more.
This funding development comes months after the Gururgam-based startup secured $6 million from Lightspeed as part of a seed funding round to strengthen its platform across both technology and team, specifically in design and growth capabilities.
As per data from Housing.com, the proptech companies in India received a total of $ 3.42 billion in private equity funding between 2009 and June 2022.
Last month, Crib, a proptech startup, raised $1.82 million (Rs 15 crore) in a seed funding round co-led by We Founder Circle and Rebright Partners to expand its product offerings and scale distribution to major pin codes across India. Also, proptech firm Reloy, which helps realtors in generating referral sales, raised Rs 7.2 crore from investors to expand its business.
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