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.