DailyObjects raises Rs 332 crore to fund major offline retail push

Direct-to-consumer lifestyle brand DailyObjects has raised Rs 332 crore in a Series C funding round, which it plans to use to rapidly expand its physical retail presence across India.

The funding, a mix of primary and secondary share sales, values the company at approximately Rs 1,050 crore. The investment round was co-led by Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital.

As part of the transaction, early investor Roots Ventures has partially exited its stake, netting an 18-fold return on its initial investment. Roots first put $2 million into DailyObjects in early 2022 and later reinvested during a $10 million Series B round in May 2024. Existing backers, including 360 One Asset and Trifecta Capital, will remain shareholders in the company.

A major offline push

The fresh capital is earmarked for a serious brick-and-mortar expansion. DailyObjects intends to open 150 exclusive brand outlets across India over the next five years.

Currently, its physical presence relies on a network of nearly 350 touchpoints, which includes its own stores alongside distributors like Apple Premium Reseller locations.

Beyond opening new stores, the company plans to pour money into product design, materials research, and international expansion, which it is currently evaluating for the next financial year. Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects began as a phone case brand. It has since diversified into bags, wallets, wireless chargers, and home and workspace accessories.

Path to profitability

The expansion comes as the business tries to chart a path to profitability. In the 2025 financial year, DailyObjects saw its operating revenue grow by 31 percent to Rs 110 crore, up from Rs 84 crore the year before. However, expenses rose at a similar pace, pushing losses up to Rs 16 crore from Rs 10 crore.

For the 2026 financial year, the startup is projecting a sharp revenue jump to between Rs 230 crore and Rs 244 crore, alongside a goal of achieving EBITDA profitability. It expects to hit these numbers by driving sales through its online channels, airport stores, and an expanded presence in over 250 Apple Premium Reseller outlets.