Nitin Konde
20 January, 2016, New Delhi: In an interesting round of funding, DailyObjects which excels in making phone accessories, managed to get Rs nine crore funding from Ronnie Screwvala’s Unilazer. Though the funding round was dominated by Unilazer, Dailyobjects had managed pull in other renowned names as well such as Lenskart’s Peyush Bansal, RedBus co-founder Phanindra Sama etc.
Company is planning to utilise the raised capital for preparing and executing its new venture in brick and mortar retail. Earlier, company had raised funds from leading Indian venture capital firm SeedFund.
“The aim is to sell products through 100 shop-in-shop kiosks across Delhi/NCR by February-end. We will also have three exclusive DailyObjects outlets at Mumbai, Delhi and Bangalore airports,” said Pankaj Garg, CEO and Co-Founder, DailyObjects, PIT reports.
“The funding will help the company to launch many new lines of personal products. Besides, it will also enable us to build our team and infrastructure to cement our current position as the leader in the market for smartphone cases, predicted to be worth Rs 1,500 crore by 2020,” he stated further.
The company came into existence in 2012. Founded by Saurav Adlakha and Pankaj Garg, it provides phone covers and laptop sleeves to its consumers through its own website and other ecommerce stores.