CONNECT WITH US
Funding Tracker

Funding Tracker

DailyObjects raises Rs 332 Cr in Series C funding round

YourStory – Funding logo

Published on

Add as a preferred source on Google
DailyObjects raises Rs 332 Cr in Series C funding round

DailyObjects, a design-led lifestyle-tech brand, has raised Rs 332 crore in a Series C round of funding led by Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital.

The funding round was a combination of primary and secondary transactions. With this, DailyObjects said it is valued at Rs 1,050 crore.

DailyObjects said in a statement that Roots Ventures, an early investor in the company, is partially exiting with a 18x return on its investment, while continuing as a shareholder alongside 360 One Asset and Trifecta Capital.

The company was founded in 2012 by Pankaj Garg and Saurav Adlakha. It plans to use the latest funding to scale its retail presence, deepen its product and R&D capabilities, strengthen brand building, and evaluate opportunities in international markets.

The company plans to build 150 exclusive brand outlets across India over the next five years, with a focus on establishing a profitable physical retail network, improving product discovery, and bringing the brand closer to consumers across key markets.

“Over the years, we have built DailyObjects by staying relentlessly focused on design, product quality and disciplined capital deployment. As we scale, capital efficiency and profitable growth will remain at the core of how we build,” said Pankaj Garg, Co-founder and CEO, DailyObjects.

DailyObjects also plans to deepen its presence across existing product categories through investments in new product ranges, design, materials, quality and R&D. The company is evaluating potential expansion opportunities into overseas markets as its broader ambition is to build a global design-led consumer brand originating from India.


Source link
Related Topics:Funding Tracker

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.