DailyObjects, a design-led lifestyle-tech brand, has raised Rs 332 crore through a mix of primary and secondary transactions at a valuation of around Rs 1,050 crore. The funding round was led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.
Roots Ventures, an early investor in the company, is partially selling its stake in the transaction at an 18x return on its investment. It will continue to hold shares in the company, alongside existing investors 360 One Asset and Trifecta Capital. Before this round, DailyObjects had raised around Rs 100 crore in equity over the past decade.
A key part of the funding will go towards expanding DailyObjects’ offline presence, with the company planning to open 150 exclusive brand outlets (EBOs) across India over the next five years. The expansion is aimed at increasing access to its products, improving product discovery and building a physical retail network while keeping profitability in focus.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects started with phone cases and has since expanded into a broader portfolio of lifestyle and technology accessories. Its offerings now include charging products, bags, wallets, laptop sleeves and workspace essentials. The company plans to invest in new product ranges, materials, design, quality and research and development (R&D) to expand its existing categories.
The company is also evaluating international markets, although its overseas expansion remains at the research and exploration stage. More concrete plans are expected to take shape in the next financial year. Co-founder and CEO Pankaj Garg said the company aims to build a Rs 1,000 crore business over the coming years, with investments in retail, product development and technology supporting its expansion.
