Start-up Raises Funds from Ex-Meta CD

Three angel investors invest in Office Banao, a proptech start-up from India

Real estate startup OfficeBanao, which raised $6million from Lightspeed in April this year, has once again 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 of Hotstar and former MD of Meta India, Ramesh Nair and Apurva Chamaria - head of partnership solutions, start-ups & venture capital, Google India.

The start-up 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 utilised 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 1 million to large offices and enterprises, as high as Rs 50 million and more.

As per reports, 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 72 milliom 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.