Summary
- DailyObjects says it raised ₹332 crore in October 2026 at about ₹1,050 crore valuation, after roughly ₹100 crore in its first decade.
- Revenue from operations grew from ₹84 crore to ₹110 crore in FY25, but losses widened to ₹16 crore. The founders target EBITDA profit in FY27.
- DailyObjects began making its own products in 2014. Bags now bring roughly 40 to 45 percent of revenue, according to Inc42.
In August 2013, YourStory reported that DailyObjects shipped about 4,000 orders a month and had 29 employees. In October 2026, the company announced a ₹332 crore (US$34.3 million) Series C round at a valuation of about ₹1,050 crore (US$108.4 million), as reported by Inc42.
This DailyObjects founder story is about a brand that spent a decade deciding what it wanted to be. It started as a reseller, became a maker, and is now trying to become a retailer. Pankaj Garg is co-founder and CEO. Saurav Adlakha is co-founder and COO.
In this story (about 10 minutes)
Table of Contents
The DailyObjects founder story starts with a discount site
Pankaj Garg grew up in Mubarikpur, a village in Alwar, Rajasthan, as he told Platform magazine in July 2026. He has said his family gave him and his siblings room to follow different paths. His brother went into textiles, his sister into biodiversity conservation, and he went into building a tech-enabled business.
By 2009 Garg had built SaleDekho, a site that pulled offline sales and discounts together by location, according to YourStory’s August 2013 profile. Saurav Adlakha joined him later.
The two found a shared interest in gadgets. YourStory described Adlakha as the gadget aficionado and Garg as the one who followed design trends. They moved on to selling accessories under a new name, Lootspot. Garg’s reasoning was commercial: good-quality accessories needed less capital and carried better margins, he told YourStory.
When Lootspot started depends on who you ask. YourStory’s 2013 profile says June 2011. Garg told Entrepreneur India in 2022 that the founders started it in 2010. In 2012, Mumbai-based Seedfund invested and the brand became DailyObjects, a name the founders chose because it points to products for every day.
“We struggled initially as the ecosystem was still evolving,” Garg told Entrepreneur India in May 2022.
At this stage DailyObjects still sold other brands’ products. YourStory reported about 15,000 products on the site and an average order of ₹1,400, and said the company targeted buyers who weren’t hunting for discounts. It also reported that DailyObjects was among the first sites to stock accessories for new devices such as the iPhone 5 and the Samsung Galaxy series.
The 2014 bet: stop reselling, start making
Two years in, Garg made what Platform called a riskier bet. DailyObjects would stop curating other brands and design its own products. Inc42 dates the narrowing to 2014, when the company dropped car accessories and other retail lines to concentrate on smartphone cases. YourStory’s SMBStory profile says Garg removed all outside brands from the platform that year.
The pitch was design. DailyObjects worked with artists, and Inc42 reports its cases sold for ₹800 to ₹1,200 in 2014 and 2015, in a market full of cheap, unbranded copies.
The company also chose the slower route on distribution. Instead of chasing marketplace volumes, it mostly sold through its own channels. In the company’s view, as Inc42 reports it, marketplaces could help sell a product but couldn’t build a brand for it.
The first outside cash that mattered came in January 2016: ₹9 crore (US$1.3 million) from Unilazer Ventures, with angels Phanindra Sama of redBus and Peyush Bansal of Lenskart. PTI reported the plan at the time. Garg wanted 100 shop-in-shop kiosks in Delhi NCR and three airport outlets.
Stores were on the wish list in 2016. The first DailyObjects retail experience store, Playground in Gurugram, only opened in 2023, according to Inc42.
“Tech and e-commerce are how you sell. Design is why someone buys.”
Pankaj Garg, co-founder and CEO, DailyObjects, to Platform magazine, 30 July 2026
Making products also changed the factory floor. Platform notes the company has grown from a 6,000-square-foot facility in Sultanpur to a 50,000-square-foot space in Gurugram.
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A bag factory that began with two tables
Phone cases stayed the core for nearly five years, Inc42 reports, before DailyObjects entered another big category. Bags came in FY21. Manufacturers wouldn’t take its small orders, so the company decided to make bags itself. According to Inc42, the operation began with two tables and grew into a factory.
Flat vector illustration of a workshop with two tables, fabric rolls, paper bag patterns and a sewing machine
Bags now bring in roughly 40 to 45 percent of revenue, Inc42 says. Garg told Platform the share is about 40 percent. Both are company figures. The bags are made in India at DailyObjects’ own facility, which Inc42 says employs around 600 people.
Charging products followed in FY23, per Inc42. The newest is NODE, a modular wireless charging system launched in India in May 2026, according to FoneArena. Then there’s Stack, a modular case system. Garg calls it the company’s biggest long-term bet on original design and says it has won Red Dot, iF Design and European Product Design awards. FoneArena reported in September 2026 that Stack contributes 14 percent of total revenue.
Two customer numbers stand out. Inc42 reports an average order value of about ₹2,600, rising roughly 10 percent a year. It also reports a lifetime repeat purchase rate near 45 percent, close to the figure Garg cited in 2022. Both are company claims.
The DailyObjects timeline in one view
Where the money comes from: own channels, own factory
About 70 percent of DailyObjects’ sales run through channels it controls, such as its website, app and stores, the company said in February 2026. The brand also sells on marketplaces, including Nykaa Fashion, and Inc42 says it’s stocked at about 300 Apple premium reseller outlets.
In comments on FY23 to Entrackr, Garg gave a cost split. Product costs were 43 percent of collections, marketplace commissions 14 percent, marketing 13 percent and distribution 7 percent. He put customer acquisition cost at around ₹425, roughly a fifth of average order value. These are founder claims. StartupIndiaX has not verified them.
The customer base has moved beyond the metros. Inc42 reports that 35 to 40 percent of sales come from Tier III and IV cities, and another 20 to 25 percent from Tier II. Garg also told Inc42 that the US already sends around 1,000 orders a month with no dedicated marketing.
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Profitable? What the founder says and what the filings show
In May 2022, Entrepreneur India described DailyObjects as already profitable for the past four years. Garg told Inc42 in October 2026 that the business had been profitable from its early stages. The filings reported since then show a mixed picture.
Entrackr, working from Registrar of Companies data, reported a marginal profit of ₹6 lakh in FY23. For FY24 it first reported a net loss of ₹3.92 crore (US$0.4 million). Later coverage from Entrackr and Inc42 Datalabs puts the FY24 loss near ₹10 crore (US$1.0 million). StartupIndiaX can’t reconcile the two from public records.
FY25 is clearer. Entrackr reported revenue from operations of ₹110 crore (US$11.4 million), up 31 percent, and a net loss of ₹16 crore (US$1.7 million). Total expenses rose to ₹124.5 crore (US$12.9 million). Advertising spend grew 40.5 percent to ₹26 crore (US$2.7 million), and employee costs rose 54.5 percent to ₹17 crore (US$1.8 million).
“Profit” can mean EBITDA, operating profit or net profit, and those are different numbers. The company’s current target is EBITDA.
In February 2026 it said it was on track to close FY26 EBITDA-positive. By mid-October, Inc42 reported the company as close to break-even, with an operating margin of about 5 percent, and on track for EBITDA profitability in FY27. The coverage we reviewed carries no explanation for the shift. Garg didn’t share FY26 bottom-line figures, and the FY26 accounts aren’t filed. Inc42 adds that he expects operating margins to widen to 15 to 20 percent over four to five years.
Revenue claims need the same care. In February 2026 the company said it had crossed an annual run rate of ₹320 crore (US$33.1 million). A run rate stretches current sales over twelve months. It isn’t revenue booked. That release projected FY26 revenue of about ₹230 crore (US$23.8 million). In October, Garg told Inc42 that FY26 closed above ₹200 crore (US$20.7 million). None of those FY26 numbers is audited. The FY27 target is ₹400 crore (US$41.3 million), which the February release framed as run rate and Inc42 as revenue.
The money behind it: four rounds and a secondary sale
Before October 2026, DailyObjects said it had raised about ₹100 crore (US$10.3 million) in equity over a decade. Inc42’s funding timeline lists the disclosed rounds: ₹9 crore in January 2016, US$2 million from Roots Ventures in February 2022 and a US$10 million Series B led by 360 ONE Asset in September 2024. DailyObjects also took ₹25 crore (US$2.6 million) of venture debt from Trifecta Capital, Inc42 reported.
The Series C is the biggest by far. Mint had reported advanced talks before the announcement. The round was ₹332 crore, a mix of primary and secondary money. Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital led it. Sattva Family Office and some angels joined the primary part, and an existing institutional investor and the founders sold shares in the secondary part, Bar & Bench reported, citing the law firm Trilegal.
That secondary sale matters. Roots Ventures, which first invested US$2 million in February 2022, partly exited at an 18x return on that initial investment, per Inc42. Roots stays a shareholder alongside 360 ONE Asset and Trifecta Capital. The company hasn’t said how much the founders sold, and StartupIndiaX hasn’t found a disclosure.
“capital efficiency and profitable growth will remain at the core of how we build”
Pankaj Garg, co-founder and CEO, DailyObjects, in the Series C announcement, October 2026
P R Srinivasan of Xponentia said the brand stood out in a category that had been driven by function and price. The valuation of about ₹1,050 crore is the company’s stated figure, not an independent one.
For scale, the same Indian Retailer round-up that covered DailyObjects also noted Boldfit’s raise of around ₹400 crore (US$41.8 million, per Indian Retailer) and Agilitas’ ₹225 crore (US$23.2 million). Rounds of this size aren’t unusual for D2C brands.
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From online-only to 150 stores
DailyObjects says it will build 150 exclusive brand outlets across India over the next five years. Inc42 reports 18 outlets in mid-October 2026, with two to three opening each month and 30 to 35 planned in FY27. Garg told Inc42 every store turns profitable from its first month, and that airport stores earn margins near 15 percent from month one. Those are founder claims.
Flat vector illustration of a grid of dots with small shop icons and a dotted paper-plane route linking them
Garg told Business Standard in April 2026 that travel retail would become a core growth engine over the next two years, because airports put premium, high-intent shoppers in front of the brand.
Overseas is earlier-stage. DailyObjects made what FoneArena called its global debut at IFA 2026 in Berlin in September, showing NODE and a new Stack lineup. The company has said international markets are at the research stage, with possible expansion from the next financial year.
Public reviews show why stores may matter. Nykaa Fashion shows a 4.0 brand rating from more than 10,000 ratings. A Trustpilot page shows 2.5 out of 5 from a small number of reviews, several complaining about product quality. Both are self-selected samples. Inc42 argues stores let buyers feel materials and finish before paying a premium, and ends its October profile with the open question: can DailyObjects grow offline and abroad without losing what made the brand distinctive?
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What about the founders’ net worth?
No credible published figure exists for either founder, and StartupIndiaX won’t print one. DailyObjects’ valuation of about ₹1,050 crore belongs to the company, not to Garg or Adlakha personally.
Stakes haven’t been disclosed in the sources we reviewed. We know only that the founders sold some shares in the Series C secondary sale. Any “net worth” number you find online for them is unverified.
“everyday objects deserve the same care in design and engineering”
Saurav Adlakha, co-founder and COO, DailyObjects, in the Series C announcement, October 2026
Adlakha is the quieter founder in public coverage. Beyond his COO role and the Series C comments above, little of his own story is on the record.
What other founders can take from it
Narrow first, then widen. In 2014 DailyObjects dropped car accessories and other lines for phone cases. It stayed there for nearly five years, per Inc42, before the next big category.
Make it yourself when suppliers won’t. Manufacturers turned down small bag orders in FY21. Two tables later, bags bring in roughly 40 to 45 percent of revenue, by the company’s own account.
Say which profit you mean. Coverage called the company profitable in 2022, and the FY25 loss is also on record. Founders who name the measure (EBITDA, operating or net) avoid the argument.
Know the difference between run rate and revenue. A ₹320 crore run rate and ₹110 crore of filed revenue describe different things. Investors and journalists will ask which one you mean.
The test is bigger than the round
DailyObjects has money, a factory and a store plan. The ₹332 crore raise doesn’t settle the harder questions. Can 150 stores pay for themselves? Can a design-led brand reach EBITDA profit in FY27? The FY26 accounts, once filed, will show how far the founders’ claims hold.
What do you make of the design-first, own-the-customer approach? Tell us in the comments, share this with a founder who’s weighing marketplaces against their own channel, and explore more Indian founder stories on StartupIndiaX.
FAQs
Who founded DailyObjects?
DailyObjects was founded in 2012 by Pankaj Garg, now co-founder and CEO, and Saurav Adlakha, co-founder and COO. It grew out of their earlier gadget-accessories site Lootspot, which Garg had preceded with a listing site called SaleDekho. The company is based in Gurugram.
How much funding has DailyObjects raised?
In October 2026 DailyObjects announced a ₹332 crore Series C, about US$34.3 million, at a valuation near ₹1,050 crore. Before that, the company says it had raised about ₹100 crore in equity over roughly a decade. All figures are company-reported.
What is DailyObjects’ revenue?
Registrar of Companies filings reported by Entrackr show revenue from operations of ₹110 crore in FY25, up from ₹84 crore in FY24. Garg told Inc42 in October 2026 that FY26 closed above ₹200 crore. That figure is unaudited and the accounts aren’t filed.
Is DailyObjects profitable?
Not on the latest filed numbers. Filings reported by Entrackr show a net loss of ₹16 crore in FY25. Inc42 reports operating margins near 5 percent and a target of EBITDA profitability in FY27. The FY26 accounts haven’t been filed yet.
How does DailyObjects make money?
DailyObjects designs and sells tech accessories, bags and workspace products. About 70 percent of sales come through channels it owns, the company says. It also sells through marketplaces such as Nykaa Fashion. Bags contribute roughly 40 to 45 percent of revenue, according to Inc42.
How many stores does DailyObjects plan to open?
DailyObjects plans 150 exclusive brand outlets across India over five years, according to its October 2026 announcement. Inc42 reported 18 outlets in mid-October 2026, with 30 to 35 more planned in FY27, plus a presence in about 300 Apple premium reseller stores.
What is Pankaj Garg’s net worth?
No credible published figure exists. DailyObjects’ valuation of about ₹1,050 crore is the company’s, not Garg’s personal wealth, and founders’ stakes aren’t disclosed in the sources we reviewed. The Series C included a secondary sale by the founders, amount undisclosed.
What did DailyObjects start as?
It began as an online store for phone and tablet accessories. The founders first ran Lootspot, then renamed it DailyObjects in 2012 after a seed investment from Seedfund. In 2014 the company stopped selling other brands and started making its own products.
Sources and disclosure
Story type: public-source profile, built from published reporting and the founders’ own public statements. DailyObjects has not reviewed this article.
Currency note: USD figures use Inc42’s conversions where it gave them. Others are converted at ₹96.8 per US$, the rate implied by Inc42’s October 2026 conversion of the Series C, and are approximate. They use today’s rate, not the rate of the year reported.
Sources
- Entrepreneur India, Series C report, 9 October 2026. https://india.entrepreneur.com/?p=100302
- YourStory, Series C report, October 2026. https://yourstory.com/2026/10/dailyobjects-raises-rs-332-cr-in-series-c-funding-round
- Inc42, Series C report, October 2026. https://inc42.com/buzz/d2c-lifestyle-brand-dailyobjects-raises-₹332-cr-to-expand-offline-presence/
- Inc42, profile of the revenue plan and offline push, 13 October 2026. https://inc42.com/startups/how-dailyobjects-is-charging-up-to-the-₹400-cr-revenue-mark/
- Inc42 Datalabs, DailyObjects funding timeline. https://inc42.com/company/dailyobjects/overview
- Bar & Bench, Trilegal deal note on the Series C. https://www.barandbench.com/law-firms/dealstreet/trilegal-advises-dailyobjects-on-332-crore-series-c-fundraise
- T2 Online, Series C report, October 2026. https://t2online.in/tech/tech-news/dailyobjects-raises-rs-332-crore-in-series-c-at-a-valuation-of-about-rs-1-050-crore/2008519
- People Matters, Series C report. https://www.peoplematters.in/news/funding-and-investment/dailyobjects-hits-indian-rupee1050-crore-valuation-after-fresh-indian-rupee332-crore-fundraise-52613
- Indian Retailer, funding alert on the Series C. https://indianretailer.com/news/funding-alert-dailyobjects-raises-rs-332-cr-series-c-funding-round-led-xponentia-capital
- Entrackr, FY25 financials report. https://entrackr.com/fintrackr/d2c-lifestyle-brand-dailyobjects-posts-rs-110-cr-revenue-in-fy25-11146401
- Entrackr, FY24 financials report, November 2024. https://entrackr.com/fintrackr/dailyobjects-revenue-spikes-34-to-rs-84-cr-in-fy24-7612822
- Entrackr, interview with Pankaj Garg on FY23. https://entrackr.com/?p=172039
- Platform magazine, interview with Pankaj Garg, 30 July 2026. https://www.platform-mag.com/design/dailyobjects.html
- Entrepreneur India, profile of the founders, 28 May 2022. https://india.entrepreneur.com/entrepreneurs/accessorizing-everyday/428430
- YourStory, 2013 profile of the Seedfund portfolio company, 12 August 2013. https://yourstory.com/2013/08/seedfund-portfolio-startup-dailyobjects-focusing-on-gadget-accessories-ships-4000-ordersmonth
- YourStory SMBStory, founder profile, undated. https://ts.yourstory.com/smbstory/daily-objects-pankaj-garg-lifestyle-electronics-d2c-accessories-brand
- PTI via Daily Excelsior, Unilazer round report, 19 January 2016. https://www.dailyexcelsior.com/?p=351250
- Company release via Analytics Insight, ₹320 crore run-rate announcement, 25 February 2026. https://www.analyticsinsight.net/press-release/dailyobjects-reports-2x-net-revenue-growth-scaled-to-320crore-arr
- PTI via NewsDrum, FY26 outlook, February 2026. https://www.newsdrum.in/business/dailyobjects-expects-to-more-than-double-revenue-to-rs-230-cr-post-operational-profit-11153857
- Business Standard, travel retail report, April 2026. https://www.business-standard.com/industry/news/brands-chase-flyers-as-new-airports-open-a-runway-to-revenue-for-retail-126041900375_1.html
- FoneArena, IFA 2026 debut report, 4 September 2026. https://www.fonearena.com/blog/491633/dailyobjects-node-stack-lineup-ifa-2026.html
- FoneArena, iPhone 18 case launch report, September 2026. https://www.fonearena.com/blog/492090/dailyobjects-cases-iphone-18-pro-18-pro-max-launched.html
- Nykaa Fashion, DailyObjects brand page. https://www.nykaafashion.com/dailyobjects-all-red-pedal-backpack/p/16391426
- Trustpilot, DailyObjects.com review page. https://nl-be.trustpilot.com/review/dailyobjects.com
AI-assistance note: This article was drafted with AI assistance and reviewed and fact-checked by the StartupIndiaX Editorial Team.
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Written by StartupIndiaX Editorial Team, StartupIndiaX writer covering Indian startups, founders, and entrepreneurship.