Proptech startup OfficeBanao raises funds from ex-Meta MD, ex-Collier CEO

Real estate startup OfficeBanao, which raised USD 6 million from Lightspeed in April this year, on Thursday said it has raised funds from three angel investors, including former Meta India MD Ajit Mohan and former Colliers India CEO Ramesh Nair.

The company did not disclose the amount raised.

Gurugram-based OfficeBanao, which is a workspace interior platform, said in a statement that it has "raised an undisclosed amount of angel investment" from Ajit Mohan, founding CEO, Hotstar and former MD, Meta India, Ramesh Nair and Apurva Chamaria - Head of Partnership solutions, start-ups & venture capital, Google India.

The startup seeks to disrupt the competitive workspace interior market with its comprehensive, end-to-end service..

With the additional funding, OfficeBanao plans to fuel its expansion.

"The funds will be utilized to further enhance its technology-driven platform, accelerate product development, and expand its workforce," the statement said.

The platform is for designers, architects, contractors, office furniture, and material suppliers providing an entire array of commercial interiors, starting from small office projects of Rs 10 lakh to large offices and enterprises, as high as Rs 5 crore and more.

According to Housing.com data, between 2009 and June 2022, the proptech companies in India received a total of USD 3.42 billion in private equity funding.

Last month, HDFC Capital-backed proptech firm Reloy, which helps realtors in generating referral sales, announced raising Rs 7.2 crore from investors to expand its business.

In a pre-series A2 funding round, Reloy (earlier known as Loyalie) said that all the existing investors participated along with new investors like BlueLotus VC and Dream Green Capital.