D2C brand SleepyCat raises $3.8 million in second round

Meenakshi Verma Ambwani New Delhi | Updated on August 16, 2021

The start-up said this marks its second external fundraise since inception

Sleep solutions start-up SleepyCat on Monday said it has raised funds to the tune of $3.8 million in a round led by Saama Capital. Existing investors – DSG Consumer Partners and Sharrp Ventures (Mariwala family office) also participated in this round.

The start-up said this marks its second external fundraise since inception, following a $1.6 million round led by DSG Consumer Partners and Sharrp Ventures in September 2019.

Kabir Siddiq, Founder & CEO, SleepyCat said, “We are excited to partner with Saama Capital along with the continued support of DSG Consumer Partners & Sharrp Ventures in our journey. SleepyCat is disrupting an existing category with purpose-driven products designed to increase the comfort and self-care quotient further up for the Indian consumers.”

Also read:D2C model, a game-changer for many brands during the pandemic

He added that with this fresh fund infusion, the company will focus on design innovation and build sleep solution products while expanding its manufacturing and distribution capabilities.

Established in 2017, the D2C start-up’s product portfolio includes mattresses, pillows, comforters, protectors, a DIY bed, and pet beds. The Mumbai-based premium D2C brand said it has quickly grown to serve over a lakh customers across India. It has also been expanding its portfolio of holistic sleep wellness products to include pillows, comforters among others.

Kiranbir Nag, Partner at Saama Capital said, “Self-care has been largely neglected over the years but the pandemic has made users more aware of self-wellness and has drawn greater focus to making informed choices. A good night’s sleep is an integral part of overall wellness. In the short time since it launched, SleepyCat has been able to create significant brand love amongst its users which reflects in the impressive performance metrics.”

Published on August 16, 2021

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