India Digest: DailyObjects, Infra.Market raise funding

DailyObjects has reportedly raised about $10 million in a new funding round from 360 One Ventures, while Infra.Market is set to raise about $18 million in its Series E2 funding round.

360 One Ventures invests in DailyObjects

Gurugram-based D2C tech accessories and lifestyle brand DailyObjects has raised about $10 million (Rs 86 crore) in a new funding round from 360 One Ventures.

According to an Entrackr report, the company’s board has passed a special resolution to issue 8,118 compulsory convertible preference shares to raise the aforementioned amount.

The company will use the capital raised for funding requirements including working capital, future expansion and other general corporate purposes, the report said.

DailyObjects is a lifestyle accessories brand that caters to a range of products including bags, wallets, charging solutions, stationery, and other accessories. The company last raised $2 million from Roots Ventures in February 2022.

Infra.Market to raise $18m

Construction materials company Infra.Market is set to raise about $18 million in its Series E2 funding round.

The board at Infra.Market has passed a resolution to issue 7,028 Series E2 preference shares at an issue price of Rs 213438.7 each to raise the capital, Entrackr reported, citing the company’s latest filing with the Registrar of Companies (RoC).

Investors in the round include Amit Vijaysinh Barad and Barad Sanjay Amarsinh and other individual shareholders.

Founded by Souvik Sengupta and Aaditya Sharda in 2016, Infra.Market claims to be the only company in the country to supply over 15 different building materials including concrete, AAC blocks, steel, and pipes & fittings, among other things.

In May, the company had raised $50 million in funding from MARS Unicorn Fund, a joint venture between Liquidity Group and MUFG.

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