Lifestyle-tech brand DailyObjects has raised Rs 332 crore through a Series C funding round comprising primary and secondary transactions, led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital. The transaction values the company at approximately Rs 1,050 crore.
The company plans to use the funds to expand its retail network, invest in product development and research, and explore international markets. It aims to establish 150 exclusive brand outlets (EBOs) across India over the next five years, with a focus on building a profitable physical retail business. DailyObjects currently has close to 350 retail touchpoints, including EBOs and Apple Premium Reseller outlets.
The company will also invest in design, materials, product quality and in-house R&D across its existing categories, which include technology accessories, carry products and workspace essentials. International expansion remains at the evaluation stage, with the company exploring potential markets and considering more concrete steps from the next financial year.
As part of the round, early investor Roots Ventures is partially exiting with an 18x return on its investment while retaining its stake in the company. Other existing investors include 360 One Asset and Trifecta Capital. DailyObjects had previously raised approximately Rs 100 crore in equity over the past decade.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects began with phone cases and expanded into a broader portfolio of lifestyle-tech products. The company aims to build a Rs 1,000 crore business over the coming years, according to co-founder and CEO Pankaj Garg.
