DailyObjects Closes $34.4 Mn to Expand Retail and Product Development

Roots Ventures, an investor is partially exiting its investment and has earned an 18 times return while still holding a stake in DailyObjects. Existing investors 360 One Asset and Trifecta Capital also remain shareholders in DailyObjects. Before this round DailyObjects had raised Rs 100 crore in equity during the past decade.

How Will DailyObjects Use the Funding?

DailyObjects will use the capital to expand its network strengthen product development and research and development and build its brand. DailyObjects plans to develop product ranges in house explore new materials improve product quality and invest in design and technology.

DailyObjects will keep focusing on its categories instead of jumping into unrelated product segments. Its strategy is to create products by mixing functional design with better materials, engineering and quality.

DailyObjects plans to launch 150 brand outlets or EBOs across India over the next five years. This expansion will improve product accessibility help customers engage more and build a physical retail framework.

Leadership Statements

“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 has built a distinctive brand in a market where products have traditionally been functional but uninspiring, and competition has focused primarily on cost. What impressed us most is Pankaj and Saurav’s commitment to delighting customers through both design excellence and functional superiority,” said P R Srinivasan, Managing Partner, Xponentia Capital Partners.

About DailyObjects

DailyObjects was founded in 2012 by Pankaj Garg and Saurav Adlakha. It began by making phone cases. Over time DailyObjects expanded into three categories: technology accessories, carrying products and workplace necessities. DailyObjects focuses on mixing design, with practical use while growing its product range and retail presence.

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