DailyObjects raises $2 million in funding to augment design team
Direct-to-customer bags, accessories, and lifestyle goods retailer DailyObjects has secured $2 million in funding from early-stage venture capital firm Roots Ventures and plans to use the investment to augment its design team.
Gurugram-based DailyObjects aims to use its funding injection to build a stronger design team and enhance its customer experiences, the business announced on February 11, ET Tech reported.
“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, ET Tech reported. “We are excited to be a part of their journey.”
The business works with over 500 craftspeople to create its products. Counting over two million global customers/users, the business expects to reach a revenue total of Rs 100 crore in the coming nine to 12 months.
“As we look forward to scaling up the lifestyle products/ accessories in India, we will be utilising the incoming funding to strengthen the team that has constantly innovated ahead of the curve,” said DailyObjects’ co-founder Pankaj Garg. “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.”
DailyObjects retails a wide array of accessories and lifestyle goods ranging from handbags, laptop bags, and wallets, to watches, phone cases, keychains, and reusable drinks cups among others. The brand’s concept is to retail everything the modern consumer needs for their everyday life. The brand retails from its dedicated e-commerce store.
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