Officebanao raises $7.7 million, Tushar Mittal acquires equity stakes of two cofounders

Officebanao, a platform for workspace interiors, has raised $7.7 million (around Rs 72 crore), a senior executive said.

The round, led by existing investor Lightspeed with participation from Medra Family, was structured across two tranches–June 2025, followed by a second tranche in January 2026.

OfficeBanao had earlier raised $6 million in seed funding from multi-stage venture capital firm Lightspeed in 2023.


“With this funding, Officebanao is entering in next chapter, that demands a different kind of leadership across technology, large-scale operations, and enterprise go-to-market. We have brought together a team of seasoned leaders who have built and scaled category-defining businesses. In addition to bringing technology in this sector, we have also brought trust, and this combination will take the company to a new height,” Mittal said.

Officebanao’s revenue has grown from Rs 22 crore in FY23 to Rs 58 crore in FY24, Rs 138 crore in FY25, and is on track to deliver Rs 225 crore in FY26, representing a compound annual growth rate of over 115% across this period.

The company is on track for EBITDA break-even in 2026.

Alongside the funding, the company’s ownership structure has changed as two co-founders have transitioned out of the business, with founder and CEO Tushar Mittal acquiring their equity stakes.

“Repeat investment of investors shows great corporate governance and market fit for the product. We will invest heavily in south India and West India markets,” Mittal said.

The company is delivering commercial fit-outs across more than 25 cities in India. At an annualised revenue run rate approaching $27 million, Officebanao is demonstrating that technology-driven platforms can achieve velocity and reliability in a sector historically plagued by delays, cost overruns, and opacity.

India’s interior design market is projected to reach $35 billion in 2026, growing at a robust 12–13 percent CAGR, with commercial projects accounting for the dominant share. The commercial fit-out sub-segment alone, encompassing office spaces, co-working facilities, retail outlets, and institutional projects, represents a multi-billion dollar opportunity that remains overwhelmingly unorganised.

Industry estimates suggest that over 90% of commercial interior work in India is still handled by fragmented, local contractors operating without standardised processes, digital project management, or transparent pricing. For businesses, particularly the fast-growing SME segment, this translates into an unreliable, opaque experience where timelines slip, budgets balloon, and design quality is inconsistent.

Strong intustry experience of Tushar, and focus on winning trust and credibility with technology has pushed Officebanao in achieving trust and build team with tech led rock solid operations.

Tushar is a serial entrepreneur and an alumni of HBS.

The company is now investing heavily in its next-generation platform, with plans to deploy AI and machine learning across the project lifecycle—from automated design generation and intelligent procurement matching to predictive project scheduling and quality monitoring. This technology-forward approach not only improves the customer experience but creates powerful network effects: as more projects flow through the platform, the system becomes smarter, faster, and more cost-efficient.

“Our ambition is to build the operating system for commercial interiors in India. Every design decision, every material procurement, every contractor assignment, every quality check—all connected, all data-driven, all transparent. That’s what transforms a services business into a scalable platform,” Mittal said.