DailyObjects Raises Rs 332 Cr in Series C to Expand Retail and Product Portfolio

DailyObjects, the India-based design-led lifestyle and technology brand, has raised Rs 332 crore, approximately $35 million, in a Series C funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.

The round includes both primary and secondary transactions and values DailyObjects at around Rs 1,050 crore.

The company plans to use the fresh capital to expand its retail footprint, develop new products, increase investment in design and research and development, strengthen its brand, and explore international markets.

Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects started with phone cases and has since expanded into technology accessories, carry products, workspace products and other lifestyle categories.

DailyObjects targets 150 exclusive stores

A major part of DailyObjects' expansion strategy is its physical retail network.

The company plans to open 150 exclusive brand outlets across India over the next five years. It currently has nearly 350 retail touchpoints, including exclusive brand outlets and Apple Premium Reseller outlets.

The company also distributes its products through more than 250 Apple Premium Reseller stores.

The expansion gives DailyObjects an opportunity to increase its presence beyond its online channels and reach customers through a larger network of physical stores.

Alongside its exclusive outlets, the company plans to strengthen its presence in airport retail and other owned channels.

More investment in products and design

DailyObjects plans to put a significant portion of the new capital into its existing product categories.

The company intends to invest in new product ranges as well as design, materials, quality and research and development.

This is a continuation of the strategy that has taken DailyObjects beyond its original phone-case business.

Its portfolio now covers technology accessories, carry products, workspace products and broader lifestyle categories.

The company has positioned design as a central part of its brand, while continuing to focus on technology-related and everyday-use products.

Roots Ventures records an 18X return

The Series C also includes a secondary transaction involving early investor Roots Ventures.

Roots Ventures has partially exited its investment in DailyObjects with an 18X return, while continuing to remain a shareholder in the company.

Other existing shareholders include 360 One Asset and Trifecta Capital.

The latest funding round takes DailyObjects' total funding raised to nearly $50 million, according to the company.

Before this round, the company had raised around Rs 100 crore in equity over the previous decade. Its last major funding round was a $10 million investment in May 2024.

Seedfund and 360 One Ventures are also among the company's key investors.

Revenue grows, but losses remain

DailyObjects recorded strong revenue growth in FY25, although profitability remained a challenge.

According to the company's financials, operating revenue increased 31% to Rs 110 crore in FY25 from Rs 84 crore in FY24.

However, total expenses also increased, rising 29.7% from Rs 96 crore to Rs 124.5 crore.

As a result, the company's loss widened to Rs 16 crore in FY25 compared with Rs 10 crore in FY24.

The company had previously projected FY26 revenue of between Rs 230 crore and Rs 244 crore and aimed to reach EBITDA profitability.

Its strategy for reaching that target includes expanding owned channels, exclusive stores, airport retail and distribution through Apple Premium Reseller outlets.

International expansion on the radar

India remains the immediate focus for DailyObjects, but the company is also evaluating opportunities outside the country.

The company is currently in the research and development and exploration stage for international markets.

It expects a more concrete move into overseas markets potentially from the next financial year.

For a consumer brand that has built its business around design, lifestyle products and technology accessories, international expansion could provide another avenue for growth once its domestic retail network reaches greater scale.

Building a larger lifestyle brand

DailyObjects' latest funding comes at a point when the company is moving beyond its original identity as a phone-case brand.

The planned 150 exclusive stores, broader product portfolio and investment in R&D are aimed at building a more extensive consumer brand across technology, carry, workspace and lifestyle categories.

At the same time, the company says it remains focused on capital efficiency and profitable growth.

The challenge will be balancing aggressive retail expansion and product investment with the need to improve profitability.

With a valuation of around Rs 1,050 crore and nearly $50 million raised to date, DailyObjects now has substantial capital to execute its next phase.

The next few years will show whether its combination of owned retail, Apple Premium Reseller distribution, product expansion and brand investment can turn that growth into sustainable profitability.