Taxation

OFFICE BANAO, A WORKSPACE INTERIORS STARTUP HAS RAISED $6M IN SEED ROUND LED BY LIGHTSPEED

By Mahenoor Khan    -   April 13, 2023

DATE OF ANNOUNCEMENT: 11 April, 2023

COMPANY'S LEGAL NAME:  Swash Tech Solutions Private Limited

FOUNDERS:

OfficeBanao is a platform for commercial interior designers, architects, contractors, office furniture, and material suppliers that was founded in January 2022 by Tushar Mittal and Akshya Kumar and Divyanshu Sharma. It offers a variety of commercial interiors, ranging from small office projects that cost 10 lakh to large offices and businesses that cost 5 crore and more.

FUNDING TILL DATE: $6 millons

TYPES OF FUNDING: Seed round

VALUATION : Not disclosed

INVESTORS:  is backed by  only light speed as of yet.

COMPANY BUSINESS:

  • Office Banao is revolutionizing the process of designing and implementing workplaces.
  •  It provides a user experience that is both immersive and delightful, and it is backed by powerful technology. This helps in better understanding customers and creating designs that they will like.
  • Using AI, 3D walkthroughs, product selections with multiple options, and real-time collaboration, effective space planning makes it possible for customers to make quick and correct decisions.
  •  In addition, they provide their customers with transparency by offering competitive pricing on a variety of product options. The process is simplified and timelines are cut down because services are assigned to multiple vendors simultaneously. In addition, real-time updates are provided to monitor the delivery procedure from the warehouse to the site.
  • COMMENTS ON LATEST FUNDING:

COMPANY'S VIEW:

Tushar Mittal, Founder and CEO, Office Banao said “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 unorganised, opaque, and so underserved, that we believe only a tech-led approach can help deliver a 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”.

INVESTORS VIEW:

Rahul Taneja, Partner, Lightspeed commented about the latest funding he added “ 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 a depth of experience and a 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 ”

PURPOSE OF FUNDING:

The start-up will also focus on establishing a deeper on-ground presence in the top 25 markets, catering to customers from small-mid-sized businesses to large enterprises, and investing in customer success and an ecosystem of execution partners.

 

 

 

 

 

 

 

 

 

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