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Lifestyle-tech accessories brand DailyObjects raises Rs 332 crore at Rs 1,050 crore valuation

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Lifestyle-tech accessories brand DailyObjects raises Rs 332 crore at Rs 1,050 crore valuation

Gurugram-based lifestyle and tech-accessories brand DailyObjects has raised Rs 332 crore in a funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital, valuing the startup at Rs 1,050 crore on a post-money basis.

The round comprised a combination of primary funding and secondary share sales.

Early investor Roots Ventures partially exited DailyObjects through the transaction, generating an 18-fold return on its investment, according to The Economic Times.

The startup plans to use the investment to expand its offline retail network, strengthen research and development (R&D), develop new products and explore international markets.

Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects initially focused on mobile phone cases before expanding into tech-accessories, bags, charging solutions, workspace products and other lifestyle items.

DailyObjects plans to establish 150 standalone retail stores across India over the next five years as it strengthens its presence beyond online sales channels.

Currently, The startup presence in close to 350 retail locations in over 85 cities, including airports and select Apple Premium Reseller outlets.

Alongside its retail expansion, DailyObjects intends to invest in product design, materials, quality improvements and R&D facilities to expand its existing product portfolio. It is also assessing opportunities in overseas markets as part of its longer-term growth strategy.

Co-founder CEO Pankaj Garg said the investment will support the startup's ambition to build a Rs 1,000 crore business and eventually establish a global consumer brand from India.

Garg also emphasised the importance of maintaining capital efficiency and focusing on profitable growth as the startup expands its operations.


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