DailyObjects has raised $2 million to expand its design staff

12 February 2022, Mumbai:

DailyObjects, a direct-to-customer retailer of bags, accessories, and lifestyle items, has received $2 million in funding from Roots Ventures, an early-stage venture capital firm. The money will be used to expand the company's design staff.

DailyObjects, based in Gurugram, plans to utilize its new capital to strengthen its design team and improve user experiences, "We believe in the excitement that DailyObjects has brought in the D2C space," said Roots Ventures managing partner Japan Vyas. 

"With multiple product offerings under a single umbrella and its expansion across the world, we believe in the excitement that DailyObjects has brought in the D2C space," said Roots Ventures managing partner Japan Vyas. "We're thrilled to be a part of their adventure." To make its items, the company collaborates with around 500 artisans.

With over two million global customers/users, the company intends to generate Rs 100 crore in revenue in the next nine to twelve months. "We will use the incoming financing to bolster the team that has always innovated ahead of the curve as we look forward to expanding up the lifestyle products/accessories in India," said DailyObjects co-founder Pankaj Garg. 

"We are grateful for Roots Ventures' trust and confidence in us, and we are focused on bringing the brand to the next level."

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DailyObjects sells a variety of accessories and lifestyle items, including purses, laptop bags, and wallets, as well as watches, phone covers, keychains, and reusable beverage cups.

The goal behind the brand is to sell everything the modern customer requires in their daily lives. The brand sells its products online through its own website.

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*Figures mentioned in the above article have been sourced from ET & Fashion Network article.