DailyObjects Raises INR 332 Cr in Series C Round

DailyObjects has raised INR 332 crore through a combination of primary and secondary transactions in its Series C funding round. The round was led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital, valuing the company at approximately INR 1,050 crore.

The company will use the capital to expand its retail network, invest in product and R&D capabilities, strengthen brand building and evaluate international markets.

DailyObjects plans to establish 150 Exclusive Brand Outlets (EBOs) across India over the next five years. The company currently has close to 350 retail touchpoints, including EBOs and Apple Premium Reseller outlets, along with its digital and direct-to-consumer channels.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects started with phone cases and has expanded into technology, carry, workspace and lifestyle products. The company plans to invest in new product ranges, design, materials, quality and R&D.

DailyObjects is also evaluating international markets and is currently in the research and exploration stage, with potential expansion from the next financial year.

As part of the transaction, early investor Roots Ventures is partially exiting with an 18x return on its investment while continuing as a shareholder. The firm had invested across multiple rounds.

Pankaj Garg, Co-founder and CEO, DailyObjects, said, “This fundraise gives us the opportunity to take that foundation into its next phase, scaling our presence across India with 150 new EBOs and investing deeper in product & technology.”

Before the Series C round, DailyObjects had raised approximately INR 100 crore in equity over the previous decade.