Punjab, Oct. 9 -- DailyObjects has raised Rs 332 crore in a Series C round that values the accessories brand at Rs 1,050 crore - the largest Indian consumer-brand round of the week, and a rare growth cheque into a category that venture investors had largely written off.
The round
Xponentia Capital Partners, Anicut Capital and Axiom Asia Private Capital led it. DailyObjects sells phone cases, bags, desk accessories and leather goods, almost entirely direct-to-consumer, and has spent several years in the part of the funding cycle where D2C brands were told to stop raising and start making money.
The valuation is worth reading carefully: Rs 332 crore into a Rs 1,050 crore company means investors took roughly a third of the business. That is...