Home Latest News D2C brand DailyObjects raises funding of $2 million from Roots Ventures

D2C brand DailyObjects raises funding of $2 million from Roots Ventures

By  
SHARE

DailyObjects, a Design-driven Global Lifestyle D2C brand, has  announced that Roots Ventures, an early-stage Venture Capital firm has invested $2million in the  company, an official statement highlighted. 

The company’s statement also highlighted that a significant part of the funding will be used for building a stronger design team and  customer experiences.  

DailyObjects focuses exclusively on bringing high-quality and well-designed lifestyle products to  its consumers to help them make a unique statement about who they are. Due to its consistency  in innovation, designs, and world-class offering, the company has been profitable for the last four  years and has 60cr+ as its current revenue. The company has also registered a growth of 300% in  2022 and is hopeful to touch Rs.100 cr revenue run rate in the next 9-12 months. 

Pankaj Garg, Co-Founder, CEO sharing the details on the recent funding, said “For  DailyObjects product is the key. We all live a Digital Lifestyle where we use our gadgets 24X7. DailyObjects provides solutions for all everyday needs and brings life to everyday tech. Our focus  is on design & Quality in everything we make. The brand has received great consumer love and  endorsement so far and it gets reflected in our repeat % that is upwards of 45%, one of the highest  in the industry. We also boast of having the lowest CAC in the industry. We want to become the  MOST INSPIRATIONAL EVERYDAY LIFESTYLE ACCESSORIES D2C BRAND that is DESIGNED as well  as MADE IN INDIA. As we look forward to scaling up the lifestyle products/accessories in India, we  will be utilizing the incoming funding to strengthen the team that has constantly innovated ahead  of the curve. We are delighted with the trust and faith that Roots Ventures showed in us and are  focused on taking the brand to the next level.” 

 At present, the company works with more than 500+ craftsmen catering to the everyday  requirements of more than 2mn+ customers and users globally. They work closely with  craftsmen and young manufacturing SME to make world class products in India. They are  present into categories like mobile and laptop accessories, home office and organization  solutions, bags and wallets. The company also has its own app on both iOS and Android and  currently has more than 500K+ downloads on Google Play Store.