2 days ago
DailyObjects Raises ₹332 Crore at ₹1,050 Crore Valuation
DailyObjects is an Indian company that makes designed products such as phone cases and other lifestyle and technology items.
It has raised ₹332 crore from investors, at a company valuation of about ₹1,050 crore.
Some of the money comes from new investment, and some comes from existing shares changing hands.
One early investor, Roots Ventures, is selling part of its stake but will remain a shareholder.
The company plans to open 150 of its own stores in India over the next five years.
It also wants to develop products and improve its design and research work.
DailyObjects says it may explore selling in other countries.
Its CEO says the company aims to build a ₹1,000 crore business over the coming years.
DailyObjects raised ₹332 crore through primary and secondary transactions at a valuation of about ₹1,050 crore.
The round was led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.
Early investor Roots Ventures is partially exiting with an 18x return while retaining a stake.
The company plans to open 150 exclusive brand outlets across India over the next five years.
DailyObjects says it will invest in product development, research and development, brand building and potential international expansion.
- Who
- DailyObjects, with investment led by Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital.
- What
- Raised ₹332 crore in primary and secondary transactions at a valuation of about ₹1,050 crore.
- Where
- India; the company plans to expand its exclusive outlets across the country.
- When
- The company announced the round on Wednesday; Mint had reported on 21 September that a round was planned.
- Why
- To expand retail, strengthen product design and research and development, build its brand and assess international opportunities.
Company and investor outlook
Capital and execution considerations
Expansion plans
Company and investor outlook
DailyObjects says the funding will support 150 exclusive outlets, deeper product and research capabilities, stronger brand building and possible international expansion.
Capital and execution considerations
The company says it intends to build a profitable physical retail network; the articles do not report any criticism or opposing assessment of these plans.
Investor exit
Company and investor outlook
Roots Ventures is partially exiting with an 18x return on its investment.
Capital and execution considerations
Roots Ventures will continue as a shareholder, so the reported exit is partial rather than complete.
Key facts
- Amount raised
- ₹332 crore, through primary and secondary transactions
- Valuation
- About ₹1,050 crore
- Lead investors
- Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital
- Roots Ventures
- Partially exiting with an 18x return and continuing as a shareholder
- Retail target
- 150 exclusive brand outlets across India over the next five years
- Company founded
- 2012
- Earlier equity raised
- About ₹100 crore over the preceding decade
Quotes
P.R. Srinivasan
Managing partner at Xponentia Capital Partners
“This fundraise gives us the opportunity to take that foundation into its next phase, scaling our presence across India with 150 new EBOs and investing deeper in product and technology. We are looking at this as capital to build a ₹1,000 crore business over the coming years and, ultimately, a global design-led consumer brand from India.”
livemint.com
“DailyObjects has built a distinctive brand in a market where products have traditionally been functional but uninspiring, and competition has focused primarily on cost.”
livemint.com
Sources
Related news
Nat Habit Raises ₹142 Crore in Series C Funding
Koffelo Launches in Mumbai, Seeks Funding for Nationwide Expansion
Arma Capital Invests ₹10 Crore Across EBG Businesses
Simple Energy raises ₹1,750 crore for electric scooter expansion
Cloud Counselage Plans INR 40 Crore Seed Funding
