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Design-led lifestyle-tech brand DailyObjects has raised Rs 332 crore (nearly $35 million) in a Series C funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital. The round, which comprised primary and secondary transactions, valued the company at around Rs 1,050 crore. The company plans to use the capital to expand its retail network, invest in product development and R&D, strengthen brand building and explore international markets. As part of the round, early investor Roots Ventures partially exited DailyObjects with an 18X return on its investment. It will continue to remain a shareholder in the company alongside 360 One Asset and Trifecta Capital. DailyObjects plans to open 150 exclusive brand outlets (EBOs) across India over the next five years. The company currently has nearly 350 retail touchpoints, including EBOs and Apple Premium Reseller outlets. The company will also invest in new product ranges, design, materials, quality and R&D across its existing categories. DailyObjects started with phone cases and has expanded into technology accessories, carry and workspace products. Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects has built a portfolio spanning technology, carry, workspace and lifestyle products. The company said it remains focused on capital efficiency and profitable growth as it scales its retail and product operations. DailyObjects has raised nearly $50 million in funding to date, with Seedfund and 360 One Ventures among its key investors. The company last raised $10 million in May 2024. Before the latest round, DailyObjects had raised around Rs 100 crore in equity over the past decade to build and scale its business. DailyObjects' operating revenue rose 31% to Rs 110 crore in FY25 from Rs 84 crore in FY24, according to the company's financials. However, its total expenses increased 29.7% to Rs 124.5 crore during the year from Rs 96 crore in FY24. As a result, the company's loss widened to Rs 16 crore in FY25 from Rs 10 crore in FY24. The company had earlier projected FY26 revenue of Rs 230-244 crore and aimed to achieve EBITDA profitability. It plans to support this through its owned channels, exclusive stores, airport retail presence and distribution across more than 250 Apple Premium Reseller stores. DailyObjects is also evaluating international markets and is currently in the R&D and exploration stage. It expects to potentially make a more concrete move into overseas markets from the next financial year.
document fetched 2026-10-09 02:53