Lifestyle tech firm DailyObjects has secured ₹332 crore in Series C funding, valuing the business at ₹1,050 crore. The capital will support an aggressive push into physical retail, with plans to open 150 stores over the next five years. While the company targets revenue of ₹400 crore by FY27, it faces the challenge of managing rising operational costs as it transitions to an omnichannel model.
DailyObjects, a lifestyle tech brand, has raised ₹332 crore in a Series C funding round. The investment was led by Xponentia Capital Partners, Anicut Capital, and Axiom Asia Private Capital. This round values the company at approximately ₹1,050 crore and provides the capital necessary for the brand to shift from being primarily online to having a significant physical presence.
The core of this business strategy is an aggressive plan to open 150 exclusive brand outlets over the next five years. Currently, the company operates 18 stores. Moving into physical retail is a major change for a brand that built its reputation online. It involves higher costs, such as rent, store maintenance, and staff salaries, compared to the lean model of online-only sales. Success will depend on the brand's ability to maintain its profit margins while managing these new overhead expenses.
Financial data from FY25 shows the company is in a growth phase, reporting ₹110 crore in revenue. However, growth has come with higher spending. Total expenses for FY25 rose to ₹124.5 crore, leading to a net loss of ₹15.91 crore, which increased from ₹10.07 crore in the previous year. The management has set a revenue target of up to ₹400 crore by FY27. To reach this goal, the company needs to prove that its retail expansion can drive enough sales to cover the increased operational costs and turn the business toward profitability.
The lifestyle and tech accessories market in India is highly competitive. DailyObjects competes with both established global brands and many smaller, agile startups. To succeed, the company will need to differentiate itself through design and product quality. Additionally, the company has expressed interest in exploring international markets, though specific timelines for this expansion have not been set.
As a private entity, DailyObjects does not have publicly traded shares, so there is no stock market impact from this news. For the company's future, the key monitorables for stakeholders will be the pace of store openings and the efficiency of unit economics in its new physical locations. Managing the balance between scaling operations and improving financial margins will be the most important factor to watch as the company moves toward its goal of a potential future public offering.