DailyObjects, an Indian direct-to-consumer lifestyle startup known for tech and lifestyle accessories, has raised ₹332 crore ($34.3 million) in a Series C round to accelerate its offline retail growth and broaden its product portfolio.
- ₹332 Cr Series C funding led by Xponentia Capital, valuation at ₹1,050 Cr
- Plans to grow offline retail footprint to 150 exclusive stores across India
- FY26 revenue projected to nearly double to ₹220-230 Cr, targeting ₹400 Cr by FY27
What happened
DailyObjects has successfully completed a ₹332 crore (approximately $34.3 million) Series C funding round co-led by Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital. This investment round combined primary and secondary components, valuing the company at ₹1,050 crore (about $108.4 million). Roots Ventures, a longstanding investor, partially exited with an 18X return, marking a significant milestone for the startup’s backers.
Founded in 2012, DailyObjects started as an online retailer focusing on smartphone and tablet accessories before expanding into lifestyle products such as bags, wallets, and wireless chargers. In 2023, the company launched its first offline retail experience store called 'Playground' in Gurugram and has since expanded to nine physical stores in major Tier I cities like Delhi NCR and Bengaluru.
Why it matters
This fresh injection of capital will enable DailyObjects to significantly enhance its offline retail presence by increasing the number of exclusive brand outlets to 150 across India within the next five years. This move reflects the growing importance of an omnichannel approach in the Indian lifestyle and tech accessories market, allowing brands to engage consumers directly in physical spaces.
Moreover, DailyObjects plans to leverage these funds to deepen product research and development, strengthen brand building efforts, and explore international expansion opportunities. The company aims to build a ₹1,000 crore business and evolve into a globally recognized design-led consumer brand originating from India, emphasizing capital efficiency and profitability.
What to watch next
Investors and industry observers will be closely monitoring DailyObjects' execution of its offline expansion strategy, particularly the rollout and performance of new exclusive brand outlets in key Indian cities. The success of these stores will be pivotal in strengthening the brand’s market footprint beyond e-commerce channels.
Financially, the company has projected its net revenue to nearly double from ₹111 crore in FY25 to between ₹220 crore and ₹230 crore in FY26, with further growth expected to hit ₹400 crore by FY27. Tracking this revenue trajectory and margin sustainability will provide crucial insights into the scalability and profitability of DailyObjects’ business model.