Real estate startup OfficeBanao, which previously secured $6 million from Lightspeed in April this year, announced on Thursday that it has received investments from three angel investors, including former Meta India MD Ajit Mohan and former Colliers India CEO Ramesh Nair. However, the company did not disclose the specific amount raised.
Angel Investments
Based in Gurugram, OfficeBanao operates as a workspace interior platform. In a statement, the company revealed that it has secured undisclosed angel investment from Ajit Mohan, founding CEO of Hotstar and former MD of Meta India, Ramesh Nair, and Apurva Chamaria, Head of Partnership Solutions, Start-ups & Venture Capital at Google India.
Disruptive Vision
OfficeBanao aims to disrupt the competitive workspace interior market with its comprehensive, end-to-end service offering. With the infusion of additional funding, the company plans to accelerate its expansion initiatives.
“The funds will be utilized to further enhance its technology-driven platform, accelerate product development, and expand its workforce,” the statement elaborated.
Comprehensive Platform
Catering to designers, architects, contractors, office furniture, and material suppliers, OfficeBanao provides a wide range of commercial interior solutions. These services span from small office projects valued at ₹10 lakh to large-scale offices and enterprises, exceeding ₹5 crore.
Proptech Landscape
According to data from Housing.com, proptech companies in India received a total of $3.42 billion in private equity funding between 2009 and June 2022. The recent investment in OfficeBanao reflects the ongoing interest and growth potential within the proptech sector.
Industry Expansion
Last month, HDFC Capital-backed proptech firm Reloy, specializing in generating referral sales for realtors, announced a fundraising of ₹7.2 crore to support its expansion efforts. This pre-Series A2 funding round witnessed participation from existing investors as well as new investors such as BlueLotus VC and Dream Green Capital.
