Office interiors startup OfficeBanao has secured ₹34.8 crore (approximately $3.76 million) in a recent funding round led by Lightspeed, with additional participation from Mangum II LLC and the Medra Family. This capital infusion represents a significant milestone as the company advances its technology-driven platform aimed at transforming workspace design, construction, and management across India.
The funding was raised through the issuance of 45,472 pre-Series A2 non-cumulative Compulsorily Convertible Preference Shares at a price of ₹7,654 per share, valuing the company at a pre-money valuation of ₹522.7 crore (about $56.5 million). This investment indicates growing confidence among investors in India’s evolving direct-to-consumer (D2C) ecosystem, where digital platforms are redefining traditionally fragmented sectors.
Founded in 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, OfficeBanao operates a digital platform that integrates technology to offer comprehensive solutions in workspace design, interior execution, and project management. The platform connects designers, architects, contractors, furniture suppliers, and material vendors within a unified ecosystem, facilitating collaboration and efficient project delivery. This integrated model aligns with the broader D2C approach in India, linking service providers directly with end users to enhance efficiency and transparency.
OfficeBanao’s platform streamlines workspace design and construction by combining technology-enabled procurement and project management tools. It serves as a central hub for vendors and contractors, optimizing vendor coordination, sourcing, procurement, and cost management throughout the project lifecycle. This reflects ongoing innovation in the D2C supply chain, where platforms reduce inefficiencies in conventional industries.
The company serves a diverse client base with services including corporate interior design, turnkey office fit-outs, and workspace construction. Projects range from ₹10 lakh for small offices up to ₹5 crore for large enterprises, positioning OfficeBanao as a scalable solution catering to businesses of varying sizes. The startup reports completing over 200 projects across 40 Indian cities, illustrating its rapid operational growth within the D2C ecosystem.
OfficeBanao maintains offices in Gurugram and Bengaluru, alongside an experience centre in Gurugram, enabling clients to review workspace solutions and design options before implementation. This hybrid approach—combining digital tools with physical experience centres—reflects an emerging omnichannel strategy increasingly adopted by startups.
Prior to this round, OfficeBanao raised $6 million in seed funding in 2023, which supported technology development, network expansion, and marketplace scaling. The latest funding will further enhance product development, strengthen the digital platform, and expand the company’s footprint in India’s growing workspace design and commercial interior market.
India’s interior design sector remains fragmented, with numerous small contractors and suppliers working independently. Startups like OfficeBanao are applying technology to bring greater transparency, standardization, and digital project management to this space, mirroring broader D2C market trends focused on introducing efficiencies into traditionally offline industries.
The interior design market in India is projected to grow substantially, with estimates suggesting it will reach $74.73 billion by 2034 at a compound annual growth rate of 8.16%. This growth presents opportunities for D2C startups that provide digital platforms to modernize workspace infrastructure and commercial interiors.
As businesses increasingly seek modern, flexible, and technology-enabled workspaces, platforms like OfficeBanao are well positioned to meet evolving customer demands for faster delivery, transparent pricing, and integrated services—areas where technology-enabled solutions can offer clear advantages.
