DailyObjects, the design-led lifestyle-tech brand, has raised Rs 332 crore, or nearly USD 35 million, in a Series C round. Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital led the round. The round mixed primary and secondary transactions and valued the company at around Rs 1,050 crore.
The money will go into expanding its retail network, product development and research, brand building, and early work on international markets.
What the round did for existing investors
Roots Ventures, an early backer, partially exited with an 18X return on its investment. It stays on the cap table along with 360 One Asset and Trifecta Capital.
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DailyObjects has now raised close to USD 50 million in total, with Seedfund and 360 One Ventures among its long-term investors. It last raised USD 10 million in May 2024.
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The retail plan: 150 exclusive stores
The company intends to open 150 exclusive brand outlets across India over the next five years. It already runs close to 350 retail touchpoints, a mix of its own stores and Apple Premium Reseller outlets.
Part of the funding is earmarked for new product ranges and for work on design, materials, quality and R&D in its existing categories. DailyObjects started with phone cases in 2012 and has since moved into technology accessories, and carry and workspace products.
The company was founded by Pankaj Garg and Saurav Adlakha. It describes itself as focused on capital efficiency and profitable growth as it scales retail and product operations.
The numbers behind the raise
DailyObjects’ operating revenue rose 31 per cent to Rs 110 crore in FY25 from Rs 84 crore in FY24. Total expenses grew 29.7 per cent to Rs 124.5 crore from Rs 96 crore. The loss widened to Rs 16 crore from Rs 10 crore.
The company had projected FY26 revenue of Rs 230 crore to Rs 244 crore and is aiming for EBITDA profitability. Its plan leans on owned channels, exclusive stores, airport retail and distribution through more than 250 Apple Premium Reseller stores.
On international expansion, DailyObjects says it is still in the research and exploration stage. A more concrete move is possible from the next financial year. For a brand built on design-led accessories, overseas retail is the natural next test. The question is whether its margins can carry the cost of physical expansion.