Lifestyle accessories brand DailyObjects is in advanced discussions to close a Rs 300 crore financing round in a mix of primary and secondary transactions led by mid-market private equity firm Xponentia Capital, people aware of the matter told ET. The round will catapult DailyObjects’ valuation to around Rs 1,000 crore from around Rs 400 crore when it last raised capital.
Around Rs 80-100 crore will be secondary, through which early-stage VC firm Roots Ventures, which owns about 30% in DailyObjects, will be exiting, one of the people in the know said.
The company sells products such as phone cases, laptop sleeves, smartwatch accessories and several other consumer tech products.
The Gurugram-based company, which is also backed by 360 One Asset Management, is looking to expand its omnichannel play as it raises fresh capital, the person cited above added. “A majority of the sales are driven by DailyObjects’ website but it is stepping up on its store expansion. It has 7-8 stores across Mumbai, Delhi and other cities, and plans to add more than 100 physical outlets in the next three to four years,” he added. The company also has tie-ups with Apple resellers in India to sell its products at their stores.
DailyObjects also plans to expand internationally and is evaluating jurisdictions such as west Asia and southeast Asia, the person said.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects clocked around Rs 200-220 crore in revenue in fiscal year 2026, another person said, adding that it is currently tracking an annualised revenue run rate of around Rs 300 crore.
Xponentia Capital did not respond to ET’s queries. Email sent to Garg went unanswered.
Several companies in the lifestyle and tech accessories segment have struggled to scale meaningfully despite operating for more than a decade. Among them is Chumbak, backed by Z47 and Gaja Capital, which was later acquired by roll-up ecommerce firm Goat Brand Labs. The brand, known for products such as bags, wallets, keychains and coffee mugs, has reported revenue in the Rs 60-70 crore range over the past five years.
Another label, Happily Unmarried, backed by Info Edge Ventures, eventually pivoted to men’s grooming through its Ustraa brand before being acquired by VLCC in 2023.
