OfficeBanao secures ₹34.8 Cr to fuel India's workspace design boom
OfficeBanao, a startup specialising in workspace interiors, has secured ₹34.8 Cr (around $3.76 Mn) in its latest funding round. The investment was led by existing backer Lightspeed, with contributions from Mangum II and Medra Family. This follows a $6 Mn seed round raised by the company in 2023.
The funding round valued OfficeBanao at ₹522.7 Cr (approximately $56.5 Mn) before the investment. Lightspeed India Partners III and LS Opportunities Access Fund each received shares worth ₹10.62 Cr. Mangum II LLC was allotted shares valued at ₹9.04 Cr, while Medra Family subscribed to shares worth ₹4.52 Cr. The startup issued 45,472 pre-Series A2 non-cumulative CCPS at ₹7,654 per share.
OfficeBanao operates a platform offering end-to-end solutions for designing, maintaining, and managing workspaces. It serves projects ranging from ₹10 Lakh to ₹5 Cr and has completed over 200 assignments across 40 cities. The company has established offices in Mumbai and Bangalore, with an experience centre in Gurgaon. India's interior design market is expected to grow significantly, reaching $74.73 Bn by 2034 at an annual growth rate of 8.16%. OfficeBanao has already expanded its workspace projects to 12 cities nationwide.
The fresh funding will support OfficeBanao's expansion as it continues to tap into India's booming interior design sector. The company has now raised a total of $9.76 Mn across its seed and pre-Series A2 rounds. Its focus remains on scaling operations and enhancing its service offerings for commercial workspaces.
