DailyObjects Scores 332 Crore Series C for Offline Expansion

Posted on 10th Oct 2026 12:10:06 in Business, Digital Marketing

Tagged as: DailyObjects, D2C, Series C funding, Offline retail, Indian startups

DailyObjects, the Gurugram-based design-led lifestyle brand known for phone cases, watchbands, wireless chargers and bags, has raised Rs 332 crore in a Series C funding round that values the company at roughly Rs 1,050 crore. The round was co-led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital, with The Rainmaker Group acting as the exclusive financial adviser.

For India's small sellers and D2C brands, the interesting part is not the size of the cheque. It is where the money is going. A company that spent its first decade selling almost entirely online now plans to open 150 exclusive brand outlets across India over the next five years, funding a physical retail network with fresh capital. The digital-first brand is betting that its next phase of growth lies on the high street.

Announced on October 9, the round mixes primary and secondary money and hands an early backer an 18x return. Here is a closer look at the deal, the strategy behind it, and what smaller businesses can take away from it.

The Deal: What DailyObjects Raised and Who Is Backing It

The Series C round combines primary capital with secondary transactions, which is a polite way of saying that a portion of the money went to existing shareholders rather than into the company's bank account. The company is valued at approximately Rs 1,050 crore (about $108.4 million). It plans to use the proceeds to expand its retail network, invest in product development and research, and explore international markets.

Roots Ventures, an early investor, partially exited its holding and booked an 18-fold return on its initial investment. Roots first bet on DailyObjects in February 2022 with a $2 million cheque and doubled down during a $10 million Series B round in 2024. It continues to hold a stake, alongside other existing investors such as 360 One Asset and Trifecta Capital.

Before this round, DailyObjects had raised roughly Rs 100 crore in equity over its first decade, per the company. Its cap table has included marquee individual investors like Lenskart founder Peyush Bansal, Unilazer Ventures and RedBus founder Phani Sama — a reminder that consumer brands in India are increasingly backed by operators, not just institutions.

From Online Store to 350 Retail Touchpoints: How DailyObjects Went Omnichannel

DailyObjects was founded in 2012 by Pankaj Garg and Saurav Adlakha as an online store for smartphone and tablet accessories. Over the years it expanded into a full lifestyle and tech accessories brand — phone cases, watchbands, bags, wallets, chargers and workspace products — with design as its calling card.

Offline arrived in 2023, when the company opened its first experience store, branded "Playground", in Gurugram. It has since built a network of nine retail stores across Tier I cities such as Delhi NCR and Bengaluru. Today the brand counts close to 350 retail touchpoints, a mix of its own exclusive brand outlets (EBOs) and outlets run in partnership with Apple Premium Resellers. That reseller partnership is a quiet but powerful distribution strategy: the brand reaches premium tech buyers exactly where they are already shopping.

The fresh funding is meant to scale that play. The company will build 150 EBOs over the next five years, with a stated focus on establishing a profitable physical retail network, improving product discovery and putting the brand closer to customers in key markets. Alongside retail, DailyObjects will invest in design, materials, product quality and in-house research and development across its three core categories: technology accessories, carry products and workspace essentials.

Why D2C Brands Are Moving Into Physical Retail

DailyObjects is not alone in making this shift. As CNBC-TV18 noted in its coverage, a broader set of D2C lifestyle and technology accessory brands in India is turning to offline channels to improve customer acquisition costs and encourage repeat purchases.

The economics explain the trend. Digital advertising costs have climbed steadily, and for small brands the cost of acquiring a customer online can swallow a chunk of the first order's margin. A physical store, by contrast, generates free footfall once it is established, cuts down return rates because customers see and touch the product first, and turns a transactional brand into a presence in the neighbourhood.

For smaller sellers, the full exclusive-store route may be out of reach, but the intermediate steps are not. Established brands have long used multi-brand outlets and shop-in-shop corners before opening standalone stores. DailyObjects' own journey — partner outlets with Apple Premium Resellers first, own stores later — is a template that any design-led business can study. Even a single shop counter, a weekend market kiosk or a retail partnership with a bigger brand can test offline economics with far less capital than a full store.

The Numbers Behind the Bet: Revenue Plans and Capital Discipline

The scale of the opportunity becomes clearer when you look at the revenue trajectory. DailyObjects reported net revenue of Rs 111 crore in FY25, and cofounder and CEO Pankaj Garg expects that to roughly double to Rs 220-230 crore in FY26, with a further jump to about Rs 400 crore by FY27. The stated ambition is to build a Rs 1,000 crore business over the coming years.

What is notable is the tone around capital. "As we scale, capital efficiency and profitable growth will remain at the core of how we build," Garg said. Ashvin Chadha, co-founder and managing partner of Anicut Capital, echoed the point: "They grew steadily while keeping a sharp focus on product quality and unit economics." In a funding environment where burn has gone out of fashion, disciplined growth is what gets a Series C signed.

The secondary component also carries a lesson for founders and small business owners thinking about the long game. Roots Ventures made about 18 times its money on an investment first made in 2022, but only because the company had compounded steadily for years before that. Patient, unit-economics-first building creates value that eventually shows up in the cap table.

What Small Sellers and D2C Brands Can Learn

• Offline is an expansion channel, not a retreat. E-commerce and physical retail are not rivals; the brands scaling today use both. Plan your offline step as a growth move, even if it starts small.
• Borrow shelves before you build stores. DailyObjects scaled through Apple Premium Reseller outlets and partner formats before committing to 150 EBOs. Partner channels carry far less fixed cost and test demand fast.
• Differentiate on design, not just price. "DailyObjects has built a distinctive brand in a market where products have traditionally been functional but uninspiring, and competition has focused primarily on cost," said P R Srinivasan, managing partner at Xponentia Capital Partners. That differentiation is what commanded a premium.
• Keep unit economics tight from day one. The company grew into its funding rather than out of it — a decade of steady building precedes this Rs 332 crore round.
• Think global from a position of strength. DailyObjects is evaluating international markets, with more concrete steps expected from FY28, once the domestic retail engine is running.

What Comes Next

The next two years will test whether a design-led Indian accessories brand can run a profitable physical retail network at scale. If it works, more D2C brands — and the small sellers watching them — will find their own path from screen to storefront. For now, DailyObjects has the capital, the partners and a five-year map. The company's goal, as Garg puts it, is to build "a global design-led consumer brand from India" while keeping the economics honest.

Sources

• Inc42 — D2C Lifestyle Brand DailyObjects Raises Rs 332 Cr To Expand Offline Presence
• YourStory — DailyObjects raises Rs 332 Cr in Series C funding round
• CNBC-TV18 — DailyObjects raises Rs 332 crore in Series C round; valuation hits Rs 1,050 crore
• ET Retail — DailyObjects raises Rs 332 crore in Series C, plans 150 stores over five years
• Livemint — DailyObjects raises Rs 332 crore led by Xponentia, others at Rs 1,050 crore valuation