Online gadget accessory marketplace, DailyObjects has raised $1.3 Mn (Approx. INR 9 Cr.) led by Ronnie Screwvala’s venture capital firm Unilazer Ventures. The other participants in the funding round were Lenskart founder Peyush Bansal and redBus founder Phanindra Sama.
DailyObjects, which sells premium cases for smartphones and MacBook, was founded by Pankaj Garg and Saurav Adlakha in 2011. The company previously raised an undisclosed amount of funding from the investment firm SeedFund in 2012.
On this event Pankaj Garg said, “Receiving funding from some of the most astute investors in the country vindicates our business strategy and gives us the means to execute our vision of selling products that democratise art & design.
DailyObjects’ went against the market trend and differentiated with our collection of art, something no other Indian brand has done before. The company’s success has proved that the Indian consumer values great design and considers it a premium feature. This funding will allow us to launch many new lines of personal products that combine functionality with incredible style; allowing Indian consumers’ unique means of self-expression that no other brand provides”
The company plans to enter into the offline space and open and launch around 100 outlets by end of February. Three exclusive outlets will be set at the airports of Mumbai, Delhi and Bangalore.
Instead of having a in house designing team DailyObjects has collaborated with 60 Indian and foreign artists who design the products and receive a commission for every sale of a product based on their designs. The company currently claims to have 5,500 designs with over 200,000 stock keeping units.