Lightspeed invests $6 mn in workspace interior platform OfficeBanao

Multi-stage venture capital fund Lightspeed has invested $6 million in seed funding in workspace interiors platform OfficeBanao, it said on Tuesday.

Founded in 2022 by Tushar Mittal, and co-founded by Akshya Kumar and Divyanshu Sharma, the startup is a platform for designers, architects, contractors, office furniture, and material suppliers providing an entire array of commercial interiors.

"The sector is unorganised, opaque and so under-served, that we believe only a tech-led approach can help deliver delightful experience to workspace owners," said Mittal.

The startups aims to leverage the capital and partnership to strengthen its platform across both technology and team, specifically in design and growth capabilities, helping small office projects of at Rs 10 lakh to large offices and enterprises, as high as Rs 5 crore and more.

OfficeBanao is currently present in more than 15 cities across the country. It will now focus on establishing a deeper on-ground presence in top 25 markets.

"It is encouraging to see the early progress, the sustainable business model and most importantly, the customer delight they have delivered and we look forward to their continued expansion," said Rahul Taneja, Partner, Lightspeed.

OfficeBanao currently has two offices in Delhi and Bengaluru with a team of 110 people.