DailyObjects Raises Rs 332 Crore Series C at Rs 1,050 Crore Valuation to Open 150 Stores

Many Indian consumer brands begin online and hit a ceiling when growth depends on advertising. DailyObjects, a phone-case maker that grew into a design-led lifestyle brand, is now spending a large round to build physical stores.

DailyObjects raised Rs 332 crore, nearly $35 million, in a Series C round led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital. The round included both new money and shares sold by existing investors, and it valued the company at around Rs 1,050 crore.

The Early Investor Exit

As part of the round, early backer Roots Ventures partly exited with an 18 times return on its investment. It will remain a shareholder alongside 360 One Asset and Trifecta Capital. A mix of primary and secondary capital is common in later-stage rounds, and it rewards early investors while bringing in new backers.

What the Company Plans

DailyObjects plans to open 150 exclusive brand outlets across India over the next five years. It currently has nearly 350 retail touchpoints, including its own stores and Apple Premium Reseller outlets. The capital will also fund new product ranges, design, materials and R&D, brand building, and exploration of international markets, which the company says is still at an early stage. Founded in 2012 by Pankaj Garg and Saurav Adlakha, it started with phone cases and has expanded into technology accessories, carry and workspace products.

The Financials

Operating revenue rose 31 percent to Rs 110 crore in FY25 from Rs 84 crore in FY24, while the loss widened to Rs 16 crore from Rs 10 crore as expenses grew about 30 percent. The company had projected FY26 revenue of Rs 230 crore to Rs 244 crore and aims for EBITDA profitability. The company has raised nearly $50 million in total, and had raised only about Rs 100 crore in equity over its first decade before this round.

What This Means for Founders

For consumer founders, DailyObjects shows that a brand can take a long road, more than a decade here, and still attract growth capital if the numbers move in the right direction. It also shows how physical retail can become the next growth lever once online acquisition gets more expensive. Founders planning a late-stage round should think about how secondary sales affect dilution, and about how a higher post-money valuation resets expectations for the next round. Early investors who see strong returns can also become helpful advocates for later fundraising.

Browse the consumer investor directory for more active funds, read the baseline mechanics of a lead investor if the term is new, or explore active capital on AngelLinx @ angellinx.ai/register.

AngelLinx Intelligence | angellinx.ai