DailyObjects raises Rs 332 crore at Rs 1,050 crore valuation

Lifestyle and technology accessories brand DailyObjects has raised ₹332 crore in a fresh funding round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital. The investment values the company at ₹1,050 crore post-money and will support an aggressive expansion of its physical retail network, product development and potential international expansion.

The funding round includes both primary and secondary transactions, giving DailyObjects fresh capital for growth while also allowing an early investor to partially exit. Roots Ventures, one of the company’s early backers, has sold part of its stake and realised an 18-fold return on its investment, according to The Economic Times.

DailyObjects Raises ₹332 Crore

DailyObjects’ latest funding round is being led by three investors: Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.

The ₹332 crore round puts the company’s post-money valuation at approximately ₹1,050 crore, or around $108 million based on the reported conversion. The transaction combines primary capital, which goes into the business, with secondary transactions involving existing shareholders.

DailyObjects funding at a glance

Metric	Details
Funding raised	₹332 crore
Round	Series C
Post-money valuation	₹1,050 crore
Lead investors	Xponentia Capital, Anicut Capital, Axiom Asia
Deal structure	Primary + secondary
Early investor	Roots Ventures
Roots Ventures return	18x
Planned new stores	150
Expansion period	Five years

The transaction represents a significant step up in DailyObjects’ funding base as the company moves from its predominantly digital origins toward an omnichannel retail model.

Company Plans 150 Stores in Five Years

A major portion of the new capital will be directed toward offline expansion.

DailyObjects plans to establish 150 exclusive brand outlets, or EBOs, across India over the next five years. The expansion will substantially increase its physical footprint and give customers more opportunities to see and purchase products in stores.

The strategy marks an important shift for a brand that initially built its business primarily through online channels.

The company’s product portfolio includes phone cases, watchbands, bags, wallets, wireless chargers and other lifestyle and technology accessories.

Physical stores could allow DailyObjects to showcase a wider range of products and create a more immersive brand experience.

From Smartphone Cases to a Lifestyle Brand

DailyObjects began in 2012 as a smartphone case business and has since expanded into a broader lifestyle-tech accessories company.

Its product range now covers personal carry products, charging solutions, workspace accessories and other technology-linked lifestyle products.

The evolution reflects a broader shift in India’s consumer market, where customers increasingly purchase technology products not only for functionality but also for design and personal style.

For DailyObjects, expanding beyond phone cases has increased the size of the addressable market while allowing the company to sell multiple products to the same customer.

Why Offline Retail Matters

The move into physical retail comes as several digitally native Indian brands are increasingly adopting an omnichannel strategy.

Online distribution provides relatively low-cost access to consumers across the country, but physical stores can provide several advantages.

Customers can physically examine products, compare designs and experience the brand before purchasing. Stores can also increase brand visibility in high-traffic locations.

For a lifestyle accessories company, where design and product feel can influence buying decisions, physical interaction can be particularly valuable.

However, offline expansion also introduces additional costs, including rent, store staff, inventory and maintenance. The success of DailyObjects’ strategy will therefore depend on whether new stores generate sufficient sales and repeat purchases to justify those expenses.

Roots Ventures Gets 18x Return

The latest transaction also provides an exit for one of DailyObjects’ early investors.

Roots Ventures has partially exited its investment and generated an 18-fold return, according to The Economic Times.

The venture capital firm first invested $2 million in DailyObjects in February 2022 and subsequently participated in the company’s Series B funding round in 2024.

The partial exit provides an example of how early-stage investors can realise returns as consumer startups mature and attract larger institutional investors.

At the same time, the secondary component of the transaction allows existing shareholders to monetise part of their holdings without requiring the entire funding round to be injected into the company.

DailyObjects Has Been Growing Rapidly

DailyObjects has been expanding its revenue base while building out its product portfolio.

The company had reported revenue of nearly ₹110 crore in FY25, according to data cited by Whalesbook. It subsequently targeted net revenue of up to ₹400 crore in FY27.

Fortune India previously reported that DailyObjects expected to close FY26 with estimated net revenue of around ₹210 crore, compared with nearly ₹110 crore in FY25. The company has also targeted a much larger ₹1,000 crore revenue milestone over the following three years.

The latest capital infusion gives the company additional resources to pursue those growth targets.

Profitability Will Become More Important

Rapid expansion can create a difficult balance between growth and profitability.

DailyObjects’ planned 150-store network will require substantial investment in physical infrastructure. While stores can increase sales and brand awareness, they also add fixed operating costs.

This means management will need to monitor store-level economics carefully.

Important metrics will include revenue per store, customer acquisition costs, repeat purchases, inventory turnover and contribution margins.

The company will also need to determine which cities and locations generate the strongest returns before accelerating the rollout.

Product Development and R&D to Get More Capital

The funding will not be used only for stores.

DailyObjects also plans to strengthen its research and development capabilities and invest in product development. The company has been expanding into categories beyond conventional phone accessories, including charging products, bags and workspace products.

Product innovation could help the brand differentiate itself in an increasingly crowded accessories market.

The company’s recent push includes NODE, a modular wireless charging ecosystem designed around the use of multiple devices across work and travel environments.

Developing proprietary products can potentially improve margins and create stronger reasons for customers to choose the brand instead of buying generic accessories.

International Expansion Also on the Radar

DailyObjects is also evaluating opportunities to enter international markets.

The company has not announced a detailed international rollout timetable, but management has indicated that overseas retail opportunities are being explored.

International expansion would give DailyObjects access to a larger customer base, but it would also introduce new challenges involving logistics, local competition, regulations, pricing and brand awareness.

The company is therefore likely to focus first on strengthening its domestic business before making large overseas investments.

India’s Premium Consumer Market Is Expanding

DailyObjects’ funding comes amid growing investor interest in Indian consumer brands targeting aspirational customers.

Consumers are increasingly willing to spend on products that combine functionality, design and brand identity. Technology accessories are particularly suited to this trend because smartphones, laptops, smartwatches and other devices have become everyday lifestyle products.

The opportunity is no longer limited to selling a basic phone case or charging cable.

Brands can build broader ecosystems around how consumers work, travel and use technology.

For DailyObjects, this provides an opportunity to increase its average customer value by selling multiple categories rather than relying on a single product.

Competition Remains High

The opportunity also comes with significant competition.

DailyObjects competes with established accessories brands, international companies and a growing number of Indian direct-to-consumer businesses.

Online marketplaces have also made it easier for customers to compare prices and products.

Physical stores therefore need to offer more than product availability. Store design, customer experience, product quality and brand differentiation will become increasingly important as the company expands.

The planned 150-store rollout will test whether DailyObjects can translate its online brand recognition into consistent offline demand.

The Bigger Picture

DailyObjects’ ₹332 crore funding round reflects the next stage of India’s D2C evolution. Many brands that initially used digital channels to build customer bases are now moving toward omnichannel strategies as they seek greater scale and stronger brand recognition.

The company’s plan to open 150 stores over five years is particularly significant because it represents a substantial commitment to physical retail. The strategy could expand its reach beyond online consumers, but it also creates a new requirement to maintain efficient store-level economics.

The ₹1,050 crore valuation indicates that investors see room for further growth in India’s lifestyle and technology accessories market. The challenge now will be converting that growth opportunity into sustainable revenue and profitability while maintaining product innovation.

Looking Ahead

DailyObjects’ immediate focus will be on deploying the new capital across its retail network, product development and brand-building activities. The planned 150-store expansion will be one of the clearest tests of the company’s ability to transition from a digital-first brand into a national omnichannel consumer business.

Over the longer term, international expansion could provide another growth avenue if the company establishes a strong domestic foundation. Its ability to combine differentiated products, online distribution and physical retail while maintaining healthy unit economics will determine how effectively DailyObjects can scale beyond its current lifestyle-accessories base.