DailyObjects, art & design focused personal accessory maker, has today announced that it has raised ₹ 9 Cr. in a fresh funding round from Unilazer Ventures, along with the participation of redBus cofounder, Phanindra Sama and Lenskart CEO and cofounder, Peyush Bansal.
Founded in 2012 by Saurav Adlakha and Pankaj Garg, DailyObjects is claimed to be the first Indian online seller to focus exclusively on smartphone cases. The company has previously raised funds from leading Indian venture capital firm, SeedFund.
India is one of the fastest growing markets in the world for cellular phones. As smartphones get increasingly commoditised, Indian consumers are looking to individualise devices that are mass produced yet incredibly personal.
“Daily Objects is at the core of India’s exploding consumption story. Their design and creative focus, brand building prowess, coupled with their ability to find high growth product ranges, makes them a unique company that will scale in the years to come”, says Ronnie Screwvala.
Speaking on the occasion, DailyObjects co-founder and CEO, 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.
Pankaj Garg went on to say that this round of funding would allow the company to make their first foray into brick and mortar sales, both independently and through tie ups with premium retailers. It would also enable DailyObjects to build out its team & infrastructure to cement its current position as the leader in the market for smartphone cases, predicted to be worth ₹ 1500 Cr. by 2020.
The founders of DailyObjects saw an opportunity to make the smartphone case, a completely functional item thought of only as a necessity, into an object of personal expression. By finding talented independent artists around the world and licensing their work, DailyObjects built up India’s largest art collection of its kind, with over 5000 works from 62 artists across 25 countries. The company constantly adds new artists and designs, keeping consumers coming back for more.
By selling premium designer smartphone cases, DailyObjects quite literally put original art from across the world into the hands of the Indian consumer. With its exclusive art and high quality products backed by India’s only lifetime warranty, DailyObjects has risen to become India’s largest seller of designer and customisable smartphone cases; selling more than 15000 cases across India every month, doing over ₹ 2.25 Cr of business and turning people on to good design, in the subcontinent.