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OfficeBanao, an Indian startup that provides an internal workplace platform for businesses in the country, has raised $6 million in seed funding led by Lightspeed.
In India’s competitive workplace interior market, traditional vendors have long dominated the landscape, often requiring significant investment of time and resources to help clients achieve their desired outcomes. Additionally, many of these established firms primarily target large corporations, leaving clients looking for third-party assistance to provide only partial solutions to fully design their new or existing office space. OfficeBanao is challenging this scenario with an end-to-end service that features an interactive visual design process tailored for businesses of all sizes – from small and medium-sized enterprises to large startups and established giants.
The Gurugram-headquartered startup’s platform brings together architects, contractors, designers, material suppliers and even office furniture suppliers under one umbrella, streamlining the process for clients. Handling a variety of commercial interiors, the startup covers all phases of design, procurement and execution for projects ranging from $12,200 modest office spaces to $610,000 designs and beyond.
In addition, OfficeBanao is using new technology to advance the interior design process for workplaces. By expediting design requirements and streamlining operations, the platform not only provides greater efficiency for customers, but also ensures a seamless experience for service providers.
Historically, workplace internal service providers have turned to tools like AutoCAD, 3ds Max and even Excel spreadsheets to manage their work. OfficeBanao is pushing through a technology suite that raises the industry standard, the startup says. This suite features an enterprise resource planning (ERP) system that replaces traditional spreadsheets, seamlessly integrates with AutoCAD to provide direct access to customers, and features a proprietary 3D solution that enables creative visualization of an impressive 10,000 options for boardrooms or meeting spaces. Second, OfficeBanao founder and CEO Tushar Mittal said in an interview.
Mittal co-founded Office Banao in January 2022 with Akshya Kumar (CTO) and Divyanshu Sharma (CBO and CPO) after years of designing and working in the industry for global clients such as real estate developer DLF and interior design firm SKV. They say the founders’ experience and knowledge of the market helped bring the startup a competitive edge against the competition.
“There is a huge demand… but the only problem is that there is no vertical integration anywhere. So people are going here and there and haven’t found a one-stop solution,” he said, answering how OfficeBanao stands out.
He said the transparency and supply chain that the startup offers to its customers also sets it apart from other players in the market.
OfficeBanao currently has clients in more than 15 cities, including some of the most untouched tier-2 cities in the country. The startup is looking to expand into the top 25 markets in the next few months. It uses platforms like LinkedIn and Instagram to attract new customers in different markets.
The startup plans to deploy global seed funding and partnerships from Lightspeed India Venture Partners. .
Mittal told TechCrunch that OfficeBanao has roughly $5 million in revenue per quarter and is improving every quarter. The launcher has loaded up to now.
“OfficeBanao is a mission-driven company committed to bringing meaningful change to how workplaces are designed in India. We are excited to partner with them and excited to see how they transform this market,” he said.
“With its deep experience and network of suppliers, the team is best positioned to disrupt the opaque and sub-par experience that plagues the industry today. It’s encouraging to see its early progress, sustainable business model and, most importantly, the joy it brings to its customers – and we look forward to their continued expansion.”
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