One of the top multi-stage venture capital firms, Lightspeed, has invested USD 6 million in OfficeBanao as seed money.
The startup will also concentrate on building a stronger physical presence in the top 25 markets over the coming months, serving clients ranging from small to large enterprises, making investments in customer success, and building a solid ecosystem of execution partners by equipping them with technology, supplies, and procedures, as per reported by BW Disrupt.
OfficeBanao, founded in 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, is a platform for designers, contractors, office equipment, and component suppliers to structure resources interiors from Rs. 10 Lac to Rs. 5 Crore and more. OfficeBanao has quickly grown to over 15 sites nationally, enabling small enterprises and startups to find efficient and stylish workspaces.
“We’re thrilled to have Lightspeed as a partner early in our journey. Given our prior experience in the space, we observed that the experience of designing and developing an office, especially for a small-mid sized business is far from ideal. The sector is unorganized, opaque and so under-served, that we believe only a tech-led approach can help deliver delightful experience to workspace owners. Our belief is that with investment in technology, supplier ecosystem, product platform and a great team, we can build a very large and very profitable venture, as we have demonstrated in the past”, said Tushar Mittal, Founder and CEO, OfficeBanao.
Rahul Taneja, Partner, Lightspeed said, “OfficeBanao is a mission driven company, committed to making a meaningful difference in how workspaces are developed in India. We are delighted to partner with them and are excited to see how they transform this market. With depth of experience and supplier network, the team is best placed to disrupt the existing opaque and sub-par experience that plagues the industry today. 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”.
By streamlining the process and using its own unique technologies, OfficeBanao is revolutionizing the process of workplace design and execution.