360 One Ventures Leads USD 10 Mn Funding Round for Gurugram's DailyObjects The latest investment will boost DailyObjects' distribution, innovation, and manufacturing while strengthening its R&D to advance tech accessories and innovative designs.
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DailyObjects, a Gurugram-based D2C tech accessories and lifestyle brand, announced that it has secured USD 10 million in its latest funding round. This investment was led by 360 One Ventures, with existing investor Roots Ventures also participating.
Founded in 2012 by Pankaj Garg and Saurav Adlakha, DailyObjects has built a reputation for its stylish and functional range of products, including tech accessories, bags, wallets, charging solutions, and stationery.
The new investment will be pivotal in expanding its distribution channels, enhancing product innovation, and scaling up manufacturing capacity. The company also plans to reinforce its R&D department to focus on advanced tech accessories and innovative designs.
Pankaj Garg, Co-Founder and CEO of DailyObjects, said, "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."
"Retail is a long-term game, and we are here to build a global brand from India that thinks and delivers original designs," he added.
DailyObjects claims to have 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 their bags category.
Additionally, DailyObjects opened its first offline store, named 'Playground,' in December 2023 in Gurugram, reflecting its growing retail presence.
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. 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."
Saurav Adlakha, Co-founder and COO, emphasised the company's readiness for expansion: "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 optimising our product portfolio."
