Roots Ventures invests in lifestyle products brand DailyObjects
Roots Ventures invests in DailyObjects – DailyObjects, a lifestyle accessories company, has raised $2 million in a new round of funding from Root Ventures, an early-stage venture capital firm. A large portion of the $2 million will be utilized to strengthen the design team and improve consumer experiences, according to the company’s statement.
DailyObjects has been profitable for the past four years, with current revenue exceeding Rs 60 crore, according to the business. In 2022, it grew by 300 percent, with the goal of “touching Rs 100 crore revenue run rate in the next nine to 12 months.”
We will use the forthcoming cash to bolster the team that has always innovated ahead of the curve as we look forward to growing up the lifestyle products/accessories in India. “We are grateful for Roots Ventures’ trust and confidence in us, and we are focused on pushing the brand to the next level,” said Pankaj Garg, Co-Founder, and CEO of DailyObjects.
“DailyObjects has established exceptional end-to-end capabilities in-house, allowing it to anticipate industry trends and provide things faster than competitors.” Scaling up while maintaining a high level of quality is difficult.
Scaling up while maintaining a high level of quality is difficult to achieve, yet Daily Objects has not only been profitable along the way but has also become a household name among the youth. With a single umbrella and various product options, it’s easy to see why.
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