Tuesday, June 25, 2024
HomeStart UpDailyObjects raises $2mn in funding to expand its operation

DailyObjects raises $2mn in funding to expand its operation

DailyObjects, a global lifestyle direct-to-consumer (D2C) brand, announced that it had raised $2 million in funding from Roots Ventures, an early-stage venture capital firm. 

The Gurugram-based firm intends to use the new funds to expand its design team and improve client experiences. 

DailyObjects, founded by Pankaj Garg and Saurav Adlakha, employs more than 500 artisans to meet the requirements of more than 2 million customers and users worldwide.

“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,” co-founder and CEO Garg said.

In 2022, the company claims to have grown by 300%, and it expects to reach a revenue run rate of Rs 100 crore in the next 9-12 months.

“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. We are excited to be a part of their journey,” Japan Vyas, managing partner, Roots Ventures, said.

Subscribe To Newsletter

ICYMI

BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.