New Delhi-based lifestyle-tech brand DailyObjects has raised Rs 332 crore in a Series C funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital, as the company looks to expand its retail footprint, accelerate product innovation and explore international markets. The funding round, which includes both primary and secondary transactions, values the company at approximately Rs 1,050 crore. The fresh capital will be used to strengthen DailyObjects’ offline presence, invest in product development and research and development (R&D), build the brand further and evaluate global expansion opportunities.
He added that the company aims to build a Rs 1,000 crore business over the coming years while maintaining a focus on capital efficiency and profitable growth.
The company said it remains focused on strengthening its existing categories rather than diversifying into new segments. This fundraise gives us the opportunity to take that foundation into its next phase,” said Pankaj Garg, co-founder and CEO of DailyObjects. DailyObjects said it is currently in the research and exploration stage for international markets and could pursue more concrete expansion plans from the next financial year. Co-founder and COO Saurav Adlakha said the investment would help the company strengthen its in-house design and R&D capabilities, explore new materials and further improve product quality. Investors said DailyObjects has built a differentiated position in a largely functional accessories market by combining design-led products with strong unit economics.
Alongside retail expansion, DailyObjects plans to deepen its presence in existing product categories through investments in new product ranges, design, materials, quality enhancement and R&D. Founded initially as a phone accessories brand, DailyObjects has expanded into a broader lifestyle-tech business with offerings spanning technology accessories, carry solutions and workspace essentials. “Over the years, we have built DailyObjects by staying relentlessly focused on design, product quality and disciplined capital deployment. The company is also evaluating overseas expansion opportunities as part of its long-term growth strategy.