DailyObjects Secures $10 Million Investment for Expansion

DailyObjects, a Gurugram-based D2C tech accessories and lifestyle brand, has announced securing a $10 million investment in its latest funding round. This significant investment, led by 360 One Ventures, with participation from existing investor Roots Ventures, will propel DailyObjects into a new phase of growth and innovation.

Investment Details

• The $10 million investment was led by 360 One Ventures.
• Existing investor Roots Ventures also participated in the funding round.

Strategic Use of Investment

This latest investment will be strategically utilized to fuel several key initiatives for DailyObjects, including:

• Expanding distribution channels to reach a wider customer base.
• Enhancing product innovation by introducing new and cutting-edge tech accessories and lifestyle products.
• Scaling up manufacturing capacity to meet the growing demand for its products.
• Reinforcing the R&D department to focus on developing advanced tech accessories and innovative designs.

DailyObjects' Commitment to Design and Innovation

Pankaj Garg, Co-Founder and CEO of DailyObjects, highlighted the company's dedication to design, stating, "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. This funding allows us to expand our product portfolio with a greater focus on design and innovation."

Focus on Sustainability

DailyObjects has made significant strides in sustainability, launching a large portfolio of sustainable bags made from 100% recycled PET bottles, under the brand name PANGEA. The company plans to explore even more innovative, sustainable, and durable materials for its bags category in the future.

Growing Retail Presence

DailyObjects has expanded its presence beyond online channels by opening its first offline store, named 'Playground,' in December 2023 in Gurugram. This move reflects the company's commitment to reaching customers through both online and offline avenues.

Investor Perspective

Karan Ahuja, Fund Manager at 360 ONE Asset, expressed his confidence in DailyObjects' future, stating, "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. The company has scaled up rapidly on the back of a capital-efficient model, and 360 ONE Asset is delighted to be a part of the next phase of the journey."

Looking Ahead

Saurav Adlakha, Co-founder and COO of DailyObjects, emphasized the company's readiness for expansion, stating, "We are geared up for a larger footprint, with manufacturing capacity set to increase in line with business requirements. Our in-house operations—from product planning to after-sales—allow us to stay close to our customers and maintain agility while optimizing our product portfolio."