D2C design and lifestyle brand DailyObjects secures USD 10 million in a Series B investment round

DailyObjects, a D2C design and lifestyle brand has secured USD 10 million in a Series B funding round, led by 360 ONE Asset. The round also witnessed participation from its existing investor, Roots Ventures. With the fresh capital infusion, the company will strengthen its focus on expanding its distribution channels, product innovation, team expansion and scale-up of its manufacturing capacity.

Founded in 2012, by Pankaj Garg and Saurav Adlakha, DailyObjects is one of the first design-conscious lifestyle brands in India, bridging design with functionality to create beautiful and unique everyday objects. The brand offers a unique assortment of product categories like tech accessories, wireless chargers, bags and desk essentials, and has witnessed over 3X growth over the past 4 years driven by immense customer love due to its value proposition of design, functionality and affordability.

DailyObjects is also planning to strengthen its R&D arm for the design of tech accessories and bags with best-in-class features and design along with innovation in materials, aimed at strengthening product differentiation. The company launched a large portfolio of sustainable bags made from 100% recycled PET bottles, PANGEA. In the future, it will be exploring more innovative, sustainable and durable materials for its bags category.

Karan Ahuja, Fund Manager at 360 ONE Asset said, “DailyObjects’ products have tremendous customer love and are a result of a decade-long journey for Pankaj and Saurav to solve problems for consumers with a design-first approach.”

Pankaj Garg, Co-Founder, and CEO of DailyObjects, said "We are excited to welcome 360 ONE Asset on board, alongside the continued support of Roots Ventures. Design has always been the core of what we do at DailyObjects, and as we grow, we’re excited to bring new product innovations to the market.”

Talking about DO’s growing product portfolio and manufacturing capacity, Saurav Adlakha, Co-founder and COO of DailyObjects, added, “We are geared up for a larger footprint, the manufacturing capacity is set to expand, and the inventory is set to increase in line with business requirements.”

Ravinder Vashist, Co-founder of Roots Venture commented, “DailyObjects as a brand resonates with its users which is manifested in the strong consumer metrics of the Company. Its EBO pilot has been quite successful and paves the way for future growth strategy.”