With the new capital infusion, the company will strengthen its focus on expanding its distribution channels, product innovation, team expansion and expanding its manufacturing capacity.
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Leading consumer design and lifestyle (D2C) brand DailyObjects raised $10 million in a Series B funding round led by 360 ONE Asset. The round also saw participation from its existing investor, Roots Ventures.
Karan Ahuja, Fund Manager, 360 ONE Asset said, “DailyObjects products are deeply loved by customers and are the result of a decade-long journey by Pankaj and Saurav to solve consumer problems with a design-first approach. The company has scaled rapidly thanks to a capital-efficient model, and 360 ONE Asset is excited to be a part of the next phase of the journey.”
With the new capital infusion, the company said it will strengthen its focus on expanding its distribution channels, product innovation, team expansion and expanding its manufacturing capacity.
Pankaj Garg, co-founder and CEO of DailyObjects, said: “We are delighted to welcome 360 ONE Asset on board, along with the continued support of Roots Ventures. Design has always been at the core of what we do at DailyObjects and to As we grow, we are excited to bring new product innovations to market. This funding allows us to expand our product portfolio with a greater focus on design and innovation to build a global brand that thinks and delivers original designs. “.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects claimed to be one of the first design-conscious lifestyle brands in India, uniting design with functionality to create beautiful and unique everyday objects. Products are made from durable materials with a proprietary craftsmanship that responds to the evolving aspirations of modern consumers. The company added that the offline expansion will follow a strategic mix, focusing on curated, innovative and experiential retail concepts.
The brand offered a unique assortment of product categories such as tech accessories, wireless chargers, bags and desktop essentials, and has witnessed over 3x growth over the past 4 years driven by the immense love from customers due to its value proposition of design, functionality and affordability.
DailyObjects also plans to strengthen its R&D arm to design accessories and technology bags with best-in-class features and design along with material innovation, with the aim of strengthening product differentiation . The company started a large portfolio of sustainable bags made from 100% recycled polyethylene terephthalate bottles. In the future, it will explore more innovative, sustainable and durable materials for its bag category.
The company’s first offline retail experience was launched in December 2023 in the heart of India’s corporate hub, DLF Cyber Hub, Gurugram – DailyObjects ‘Playground’.