OfficeBanao builds tech-led commercial interiors and office fit-out solutions for businesses in India. In its latest funding round, OfficeBanao raised $7.7 million from existing backer Lightspeed, as it tackles an office design market in India still defined by scattered vendors, poor visibility, and costly delays. Founded in 2022 by Tushar Mittal, the company is trying to turn a messy services business into something that feels more like a structured operating platform. That’s the real story here.
What does OfficeBanao actually do?
OfficeBanao sells a full-stack commercial interiors service for offices. A customer doesn’t just hire a designer or a contractor. They enter a single workflow that covers space planning, design options, furniture and material procurement, execution, project tracking, and final handover.
The process starts with discovery. Businesses can explore layout styles, space configurations, and budget ranges before they get deep into execution. From there, OfficeBanao’s team works on instant layouts, real-time design options, and pricing estimates meant to come back far faster than a traditional design-and-build cycle. The pitch is simple: fewer handoffs, less chaos, fewer spreadsheets.
That tech layer matters more than it sounds. OfficeBanao uses interactive design tools so clients can see layouts before anything is built, edit finishes, and compare options quickly. The company’s stack includes an ERP system for project management, a layer that works with AutoCAD, and a proprietary 3D preview engine that can show thousands of design combinations in seconds. For a category that has long run on calls, PDFs, and delayed bills of quantities, that’s a meaningful shift.
The promise also goes beyond design. The company runs procurement and execution under one roof. That means milestone visibility, structured payments, vendor coordination, and quality monitoring sit inside the same system. For customers, the before-and-after is pretty obvious: instead of juggling an architect, a contractor, a material supplier, and a furniture vendor separately, they get one accountable team.
Who is behind OfficeBanao and how did it get here?
The founding story
Tushar Mittal didn’t arrive in this category from the outside. He’s spent most of his working life in office construction and interiors, and that history shows in how OfficeBanao is set up. Before launching the startup, he had already seen the same problem for years — demand was real, but the market was fragmented, opaque, and largely unorganized.
That’s why OfficeBanao wasn’t built as a pure software business. It was built as a tech-enabled operating model for workspace design and build. Mittal started the company in 2022, alongside Akshya Kumar and Divyanshu Sharma, with the idea that office owners shouldn’t have to stitch together design, procurement, and site execution on their own.
Why Mittal looks like a believable founder here
Founder-market fit isn’t a buzzword in this case. Mittal studied civil engineering, went on to NICMAR, and worked at DLF early in his career. That gave him direct exposure to construction projects, vendor networks, and the ugly realities of execution on the ground.
He later founded Studiokon Ventures in 2009, a bootstrapped office design-and-build business. It grew fast, crossed ₹100 crore in revenue by 2015, and hit ₹121 crore in FY19 after a rough reset period. He also briefly launched Happy Monday, a managed office venture, in late 2019. That business died quickly when the pandemic shut offices in March 2020.
So no, OfficeBanao isn’t a founder guessing at a market from a slide deck. It’s a second major act in a category Mittal has already operated in for well over a decade. He’s also a Harvard alumnus, which matters less than the fact that he knows how this industry breaks.
Early execution and traction
OfficeBanao is live and operating at scale, not testing ideas in beta. It handles workspace projects starting at around ₹10 lakh for small offices and going up to ₹5 crore for large office and enterprise work. That range matters because it shows the company isn’t serving only giant corporates.
The business has completed more than 200 projects across 40-plus cities in India. Its delivery footprint has also crossed 2 million square feet, with 95% of projects delivered on time and within scope. The company runs offices in Gurugram and Bengaluru, plus an experience centre in Gurugram.
On the numbers side, revenue has moved quickly. OfficeBanao went from ₹22 crore in FY23 to ₹138 crore in FY25 and is on track to hit about ₹225 crore in FY26. It has also said it expects to reach EBITDA breakeven in calendar 2026. That’s ambitious. But at least it’s attached to a visible revenue base, not just a story.
OfficeBanao funding details
The headline number is $7.7 million, or roughly ₹64 crore, in a round led by Lightspeed with participation from Medra Family. The money came in across two tranches — one in June 2025 and another in January 2026.
Board approvals covered the issuance of 45,472 pre-Series A2 non-cumulative CCPS at ₹7,654 per share, translating to ₹34.8 crore in that tranche. Lightspeed India Partners III and LS Opportunities Access Fund were each allotted shares worth ₹10.62 crore on December 31, 2025. Mangum II LLC received shares worth ₹9.04 crore on the same date. Medra Family subscribed to shares worth ₹4.52 crore on January 23, 2026.
The valuation report for that raise pegged the pre-money valuation at ₹522.7 crore, or about $56.5 million. Before this round, OfficeBanao had raised $6 million in seed funding in 2023.
Where OfficeBanao sits against rivals
This isn’t an empty category. Flipspaces is the most obvious comparison in tech-enabled commercial interiors, and it has already raised roughly $50 million across three tranches. 91Squarefeet is another player pushing structured commercial fit-outs. All Home — launched by PharmEasy cofounders Dharmil Sheth, Dhaval Shah, and Hardik Dedhia in June 2025 — has added more investor attention to the wider design and interiors market after raising capital from Bessemer at a $120 million valuation.
But OfficeBanao’s edge is a little different. It’s deeply focused on workspace interiors, not broad home design. It combines design and procurement with execution in one workflow. It also comes with a founder who already built a large offline business in the same category before trying to layer software and AI onto it. Investors aren’t just backing a prettier interface. They’re backing operational memory.
Why the OfficeBanao funding round matters
The obvious use of proceeds is AI. OfficeBanao says it wants to deploy AI and machine learning across the project lifecycle — automated design generation, smarter procurement matching, project scheduling, and quality monitoring. If that works, customers should see faster design turnarounds, tighter material selection, and fewer surprises once execution starts.
There’s also a margin story here. Commercial interiors is full of leakage — delays, rework, last-minute sourcing, poor handoffs. A platform that can shorten design time from weeks to days and compress manual BoQ work into a few hours has a shot at building a much cleaner business than a traditional contractor-led model.
Repeat backing from Lightspeed matters too. Venture firms don’t usually double down in a services-heavy category unless they believe the company is building process, trust, and real defensibility. OfficeBanao is also hiring into leadership and pushing deeper into South and West India, which tells you this round isn’t just about survival. It’s about expansion with a heavier tech layer.
How fast is India’s office interiors market growing?
The timing isn’t random. India’s interior design market reached about $36.9 billion in 2025 and is projected to hit $74.73 billion by 2034, implying an 8.16% CAGR. That’s a big enough market on its own, and the commercial segment is a major part of it.
Office demand is also stronger than a lot of people expected after the remote-work panic years. India recorded 83.3 million square feet of gross office leasing in 2025, the highest annual level on record. That matters because more office leasing usually means more fit-outs, more refurbishment, and more demand for vendors that can deliver quickly without turning projects into a mess.
There’s a second shift, too. Companies still want offices, but not the same kind. Workspaces are being designed more for collaboration, client-facing meetings, and experience than for rows of fixed desks. That creates demand for smarter layouts, quicker visualization, and more flexible procurement. That’s exactly where a company like OfficeBanao wants to play.
What to watch after OfficeBanao funding
OfficeBanao funding is interesting because it sits between two worlds — old-school contracting and software-led workflow control. The next thing to watch isn’t just revenue growth. It’s whether the company can prove that AI in office fit-outs actually cuts time, improves procurement decisions, and keeps delivery predictable as the business scales across more cities.
Read how WeRize raised ₹64 crore in fresh funding and why investors are backing its advisor-led fintech model for credit, insurance, and savings in small-town India.
FAQ
What happened in the OfficeBanao funding round?
OfficeBanao closed a $7.7 million round in March 2026, led by Lightspeed with participation from Medra Family. The raise was completed in two tranches during June 2025 and January 2026, and earlier board documents had shown a ₹34.8 crore tranche priced at ₹7,654 per share.
How does OfficeBanao work for office design and fit-outs?
OfficeBanao gives businesses one system for office design, procurement, and execution instead of making them manage separate vendors. Clients can review layouts, compare design options, get faster costing, and track project milestones through a tech-first workflow that also covers material sourcing and site delivery.
Who founded OfficeBanao?
Tushar Mittal started OfficeBanao in 2022, with Akshya Kumar and Divyanshu Sharma as cofounders in the early team. Mittal had already spent years in office interiors, including building Studiokon Ventures after earlier experience at DLF, so he came into this startup with unusually strong category knowledge.
What market is OfficeBanao competing in?
It operates in India’s commercial interiors and office fit-out market, which has a lot of fragmented local contractors and manual workflows. That broader interior design market is projected to reach $74.73 billion by 2034, which helps explain why investors keep showing up for structured, tech-enabled players in this category.
