DailyObjects, the design-led lifestyle and tech-accessories brand, has closed a Rs 332 crore Series C round, roughly $35 million, with Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital leading the investment. The round combined fresh primary capital with secondary transactions, valuing the company at about Rs 1,050 crore.

Where the money goes

The proceeds are earmarked for widening the retail footprint, funding new product development and R&D, strengthening the brand, and laying early groundwork in overseas markets.

A 150-store retail push

The company intends to open 150 exclusive brand outlets across India within five years. It currently runs close to 350 retail touchpoints, split between its own stores and Apple Premium Reseller outlets, a channel it also plans to use for distribution across more than 250 locations.

An 18x exit for an early backer

Existing investor Roots Ventures partly sold its stake, booking an 18x return. It remains on the cap table alongside 360 One Asset and Trifecta Capital. Total capital raised now stands near $50 million, following a $10 million round in May 2024.

The numbers behind the raise (FY25)

Operating revenue climbed 31% to Rs 110 crore, up from Rs 84 crore a year earlier. Total expenses rose 29.7% to Rs 124.5 crore, while losses widened to Rs 16 crore from Rs 10 crore. Management has guided to Rs 230 to 244 crore revenue in FY26 and is targeting EBITDA profitability, betting on owned channels, airport retail and its reseller network.

International plans

Expansion abroad remains at the research and exploration stage, with a firmer decision possible from the next financial year.

About the company

Founded in 2012 with phone cases as its first product line, DailyObjects has since expanded into technology accessories along with carry and workspace ranges. It was started by Pankaj Garg and Saurav Adlakha, and positions itself around capital efficiency and profitable growth as it scales both retail and product operations.