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Lightspeed backs Officebanao in $7.7m funding round
Officebanao is an Indian commercial interiors startup that raised US$7.7 million in a funding round led by Lightspeed.
The round included participation from Medra Family Office and other investors, and was structured across two tranches in June 2025 and January 2026 after a US$6 million seed led by Lightspeed in 2023.
The company will use the fund to enhance its platform with AI for design, scheduling, and procurement.
The firm expects revenue to reach 225 crore rupees (US$24.34 million) in fiscal 2026, up from 22 crore rupees (US$2.38 million) in its first year, and to reach EBITDA break-even by the end-year.
Officebanao operates in 25 Indian cities and targeting a domestic interior design market projected to reach US$35 billion by 2026.
🔗 Source: YourStory
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The funding round valued Officebanao at about $70 million amid a founder consolidation
- The round set a post-money valuation near $70 million 1.
- Founder and CEO Tushar Mittal bought the equity stakes of Akshya Kumar and Divyanshu Sharma after both early leaders left 2.
- Revenue rose from Rs22 crore in fiscal year 2023 to Rs138 crore in fiscal year 2025 2.
- Competitors include tech-led interior design services Flipspaces and All Home 1.
Officebanao’s platform model digitizes a fragmented supply chain
- The plan targets India’s workspace interiors market where incumbents often deliver only part of a project, so clients hire extra vendors 3.
- Officebanao brings architects, contractors, designers, plus material suppliers into one system 3.
- The setup could guide efforts to bring other complex service industries in India online, many of which stay unorganized 4.
- It supplements AutoCAD and spreadsheets with a proprietary enterprise resource planning (ERP) system, software for managing workflows and operations, plus a 3D visualization tool 3.
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