DailyObjects | Rs 332 Cr (~$35M Series C)

Founders: Pankaj Garg, Saurav Adlakha

Founded: 2012

Sector: D2C / Lifestyle & Tech Accessories

What they do

→ Design-focused consumer brand selling tech accessories, workspace essentials, carry products and lifestyle merchandise

→ Started with phone cases and expanded into multiple categories

→ Sells through D2C channels, own retail stores, airport retail and Apple Premium Reseller outlets

→ Focuses on design, materials and product quality

The Funding

→ Raised Rs 332 crore (~$35M) in Series C at a valuation of around Rs 1,050 crore

→ Led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital

→ Mix of primary and secondary, with early investor Roots Ventures partially exiting at an 18X return

→ Takes total funding to nearly $50M, funds earmarked for retail expansion, R&D, brand building and possible international entry

Why it matters

→ Plans 150 exclusive brand outlets across India over the next five years, from ~350 retail touchpoints today

→ FY25 operating revenue hit Rs 110 crore, up 31%, though losses widened to Rs 16 crore from Rs 10 crore

→ Projects Rs 230 to 244 crore revenue in FY26 and is targeting EBITDA profitability

→ Evaluating overseas markets, with clearer decisions expected from next financial year

Can a design-led accessories brand turn offline retail expansion into profits, or does a bigger store network just mean bigger losses first?