DailyObjects Raises $34.3M in Series C Funding to Expand Retail Presence

Pankaj Garg and Saurav Adlakha, DailyObjects Co-founders

DailyObjects, an Indian D2C lifestyle and tech accessories brand, secured $34.3 million (Rs 332 crore) in a Series C funding round led by Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital.

The mixed primary-secondary transaction values the company at $108.4 million (Rs 1,050 crore) and provided an 18-fold partial exit for early backer Roots Ventures.

The company intends to scale from nine to 150 exclusive brand outlets (EBOs) within five years, aggressively targeting Rs 400 crore in FY27 revenue.

Why Has DailyObjects Raised Rs 332 Crore in Series C Funding?

DailyObjects, an Indian direct-to-consumer (D2C) lifestyle and tech accessories brand, has raised US$34.3 million (Rs 332 crore) in a Series C funding round co-led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital, according to a media report.

The funding round comprises both primary and secondary transactions and values the startup at US$108.4 million (Rs 1,050 crore). The fresh capital will support DailyObjects' expansion across offline retail, product development, research and development (R&D), brand building and international markets.

The investment comes as DailyObjects looks to scale beyond its online origins and establish a larger physical retail footprint across India. The company aims to build a design-led consumer brand while maintaining capital efficiency and pursuing profitable growth.

How Will DailyObjects Use Its New Funding?

DailyObjects plans to allocate the proceeds from its Series C round toward five strategic priorities:

• Offline retail expansion: Grow its physical presence across India, with a target of 150 exclusive brand outlets (EBOs) over the next five years.

• Product development: Expand its lifestyle and technology accessories portfolio.

• Research and development: Strengthen product innovation and design capabilities.

• Brand building: Increase brand awareness and deepen its position in India's consumer accessories market.

• International expansion: Explore opportunities in overseas markets and develop a global consumer brand originating from India.

The planned expansion to 150 EBOs represents a significant increase from the company's nine existing retail stores, which are concentrated in Tier I cities, including Delhi-NCR and Bengaluru.

DailyObjects opened its first offline retail experience store, DailyObjects Playground, in Gurugram in 2023. Its retail strategy reflects a broader effort to complement its digital sales channels with physical customer experiences.

What Is DailyObjects' Valuation and Who Are Its Investors?

The Series C round values DailyObjects at Rs 1,050 crore (US$108.4 million). It also provides a partial exit opportunity for early investor Roots Ventures, which secured an 18-fold return on its investment.

Funding detail	Information
Company	DailyObjects
Funding round	Series C
Total round size	Rs 332 crore (US$34.3 million)
Valuation	Rs 1,050 crore (US$108.4 million)
Co-lead investors	Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital
Secondary transaction	Roots Ventures partially exited its investment
Roots Ventures' reported return	18-fold
Planned retail footprint	150 EBOs over five years

Roots Ventures first invested US$2 million in DailyObjects in February 2022 and participated again in the company's US$10 million Series B round in 2024. Its partial exit in the latest transaction marks a liquidity event for an early backer as the startup enters its next growth phase.

Other investors associated with DailyObjects include Peyush Bansal, founder of Lenskart; Unilazer Ventures; and Phani Sama, founder of redBus.

According to the company, DailyObjects had raised approximately Rs 100 crore in equity over the decade preceding the latest funding round.

How Has DailyObjects Evolved Since Its Founding in 2012?

Founded in 2012 by Pankaj Garg and Adlakha, DailyObjects began as an online retailer specialising in smartphone and tablet accessories. It has since broadened its product range to serve consumers seeking functional, design-oriented lifestyle and technology products.

Its current portfolio includes:

• Phone cases and other mobile accessories

• Watchbands

• Bags and wallets

• Wireless chargers

The company opened DailyObjects Playground in Gurugram in 2023, marking its move into physical retail. It has since established nine stores across major Indian urban markets, including Delhi-NCR and Bengaluru.

The next phase of expansion is designed to build on this omnichannel model, combining digital distribution with a wider network of exclusive brand outlets.

What Are DailyObjects' Revenue Targets for FY26 and FY27?

DailyObjects is targeting a substantial increase in revenue over the next two financial years, according to projections shared by co-founder and CEO Pankaj Garg.

Financial metric	Revenue
FY25 net revenue	Rs 111 crore
FY26 projected net revenue	Rs 220–230 crore
FY27 projected revenue	Rs 400 crore
Longer-term business ambition	Rs 1,000 crore in revenue

Garg expects net revenue to double to Rs 220 crore–Rs 230 crore in FY26, compared with Rs 111 crore in FY25. This would represent projected year-on-year growth of approximately 98%–107%.

For FY27, the company expects revenue to reach Rs 400 crore, equivalent to growth of approximately 74%–82% over the projected FY26 range.

These figures are management projections rather than reported financial results. Achieving them will depend on DailyObjects' ability to expand distribution, develop its product portfolio and convert increased brand visibility into sales.

Garg has also outlined a longer-term ambition to build a business generating Rs 1,000 crore in revenue. He said capital efficiency and profitable growth would remain central to the company's expansion strategy.

What Does DailyObjects' Series C Funding Mean for Its Growth Strategy?

DailyObjects' Rs 332 crore Series C round provides capital for its transition from an online-first accessories retailer into a larger consumer brand with an expanded physical presence.

Three priorities stand out.

First, the planned rollout of 150 EBOs over five years signals a substantial commitment to offline distribution. Moving from nine existing stores to this target will require disciplined site selection, retail execution and investment management.

Second, product development and R&D are expected to support the company's expansion beyond its original smartphone accessories category. A broader portfolio spanning bags, wallets, watchbands and wireless charging products gives DailyObjects multiple opportunities to strengthen its design-led positioning.

Third, the company's projected revenue growth will need to be balanced against the cost of retail expansion and brand building. Garg's emphasis on capital efficiency and profitability suggests that scaling the business sustainably will be as important as increasing its store count.

With a reported valuation of Rs 1,050 crore and an ambition to reach Rs 400 crore in FY27 revenue, DailyObjects is entering a new stage of growth. Its ability to execute its retail rollout and maintain financial discipline will be central to achieving its longer-term target of Rs 1,000 crore in revenue.