Design-led lifestyle-tech brand DailyObjects has raised Rs 332 crore, or nearly $35 million, in a Series C funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.
The round includes both primary and secondary transactions and values DailyObjects at around Rs 1,050 crore. The fresh capital will be used to expand the company’s retail presence, develop new products, strengthen research and development (R&D), build the brand and explore international markets.
DailyObjects targets 150 exclusive stores
Retail expansion will be one of the key priorities following the funding round. DailyObjects plans to open 150 exclusive brand outlets (EBOs) across India over the next five years.
The company currently has nearly 350 retail touchpoints, including its exclusive stores and Apple Premium Reseller outlets. It also plans to strengthen its presence through owned channels, airport retail and distribution across more than 250 Apple Premium Reseller stores.
Alongside physical expansion, DailyObjects plans to invest in new product categories, designs, materials and quality. The company said R&D will remain an important part of its next phase of growth.
The brand began with phone cases and has since expanded into technology accessories, carry products, workspace products and other lifestyle categories.
Roots Ventures exits with 18X return
The Series C round also gives an exit opportunity to early investor Roots Ventures, which has partially exited DailyObjects with an 18X return on its investment.
Roots Ventures will continue to hold a stake in the company. Other existing investors, including 360 One Asset and Trifecta Capital, will also remain shareholders.
DailyObjects has raised nearly $50 million in funding so far. Seedfund and 360 One Ventures are among its key investors, while its previous funding round was a $10 million raise in May 2024.
Before the latest transaction, the company had raised around Rs 100 crore in equity over the past decade to build and scale its business.
Revenue rises, but losses widen
DailyObjects’ operating revenue increased 31% to Rs 110 crore in FY25 from Rs 84 crore in FY24. However, its total expenses also rose during the year, increasing 29.7% to Rs 124.5 crore from Rs 96 crore.
The higher expenses resulted in a wider loss of Rs 16 crore in FY25, compared with Rs 10 crore in FY24.
The company had earlier projected FY26 revenue of Rs 230-244 crore and set a target of achieving EBITDA profitability. Its expansion strategy is expected to be supported by its owned channels, exclusive stores, airport retail presence and Apple Premium Reseller network.
DailyObjects looks beyond India
International expansion is another area under consideration for the company. DailyObjects is currently evaluating overseas markets and remains in the R&D and exploration stage.
The company expects to potentially take a more concrete step towards international markets from the next financial year.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects has built a portfolio covering technology accessories, carry, workspace and lifestyle products. With the new funding, the company is set to focus on expanding its physical retail network while continuing to invest in products, design and R&D.
The company has also maintained its focus on capital efficiency and profitable growth as it scales its retail and product operations.
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