Workspace Interior Startup OfficeBanao Raises $4 Million Led by Lightspeed

India’s commercial interior and workspace design sector is seeing growing investor interest as startups bring technology into an industry that has traditionally remained fragmented. Gurugram-based workspace interiors platform OfficeBanao has raised around $4 million (approximately ₹34.8 crore) in a fresh funding round led by Lightspeed, with participation from investors including Mangum II LLC and the Medra Family.

The capital infusion comes as OfficeBanao continues to expand its technology-driven platform aimed at simplifying how businesses design and build office spaces.

Bringing Technology to Workspace Design

Founded in 2022 by Tushar Mittal, Akshya Kumar, and Divyanshu Sharma, OfficeBanao operates a digital platform that connects designers, architects, contractors, suppliers, and office furniture providers in one integrated ecosystem.

The company provides end-to-end workspace solutions — from design planning and procurement to execution and project management — helping businesses set up or renovate their offices more efficiently.

Unlike traditional interior providers that often rely on manual coordination and fragmented vendor networks, OfficeBanao focuses on technology-enabled workflows to streamline vendor management, sourcing, and project execution.

Funding Details and Valuation

According to regulatory filings, the company issued pre-Series A2 compulsory convertible preference shares (CCPS) as part of the funding round. The round values the company at a pre-money valuation of about ₹522.7 crore (around $56 million).

The investment also appears to be part of a broader ongoing round, indicating that additional capital may be raised in subsequent tranches.

Prior to this round, the startup had already secured $6 million in seed funding in 2023, also led by Lightspeed.

Building a Scalable Workspace Platform

OfficeBanao positions itself as a one-stop platform for office interiors, catering to projects ranging from ₹10 lakh for smaller office setups to ₹5 crore for large enterprise projects.

The startup claims it has already completed more than 200 projects across 40+ cities in India, serving companies that want faster, transparent and cost-efficient workspace design solutions.

The company currently operates offices in Gurugram and Bengaluru, along with an experience centre in Gurugram.

A Growing Opportunity in India’s Interior Design Market

The funding also highlights a broader trend: technology-driven startups are trying to organize India’s massive but largely unstructured interior design and workspace solutions market.

Industry reports estimate that India’s interior design market could reach around $74 billion by 2034, growing at a steady pace as more businesses expand offices and upgrade workspaces.

By combining technology, procurement networks, and project execution, startups like OfficeBanao are attempting to build scalable solutions in this evolving sector.

With fresh capital in hand, the company is expected to focus on strengthening its technology stack, expanding operations across new cities, and building deeper partnerships across the workspace design ecosystem.

Disclaimer

This article is based on publicly available media reports and industry sources. Kalpway does not independently verify financial or operational claims mentioned in third-party reports. The information provided is for informational purposes only and should not be considered financial or investment advice.