DailyObjects Raises USD 10 Mn in Series B Funding

New Delhi, Sep 18 (PTI) D2C design and lifestyle brand DailyObjects on Wednesday said it has raised USD 10 million in a series B funding round led by 360 ONE Asset.

The funding round also saw investment from its existing investor Roots Ventures.

"With the fresh capital infusion, the company will strengthen focus on expanding its distribution channels, product innovation, team expansion and scale up of its manufacturing capacity," a company statement said.

The Gurugram-based company was founded in 2012 by Pankaj Garg and Saurav Adlakha. It has witnessed over 3x growth over the past four years, the statement said.

DailyObjects is also planning to strengthen its R&D arm for design of tech accessories and bags with best-in-class features and design along with innovation in materials, aimed at strengthening product differentiation.

"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.

"At DailyObjects, from product planning, design, manufacturing to after-sales, are all in-house, that allows us to stay close to our customers, maintain agility, optimise our product portfolio and control our costs," said Saurav Adlakha, co-founder and COO of DailyObjects.