SleepyCat raises $3.8 million from Saama Capital, DSG Consumer Partners, Sharrp Ventures

Direct-to-consumer (D2C) sleep options model SleepyCat on Monday mentioned it has raised $3.8 million (about Rs 28 crore) in funding led by Saama Capital. The spherical additionally noticed participation from current traders – DSG Consumer Partners and Sharrp Ventures (Mariwala household workplace).

That is the second exterior fundraise by the corporate since August 2017. It had raised $1.6 million in funding led by DSG Shopper Companions and Sharrp Ventures in September 2019.

“SleepyCat is disrupting an current class with purpose-driven merchandise designed to extend the consolation and self-care quotient additional up for the Indian shoppers. We wish to change the best way individuals store for mattresses and different sleep merchandise, direct from the manufacturing facility,” SleepyCat founder and CEO Kabir Siddiq mentioned.

With this fundraise, the corporate will deal with design innovation and construct world-class sleep answer merchandise whereas increasing its manufacturing and distribution capabilities, he added.

With the brand new spherical of funding, SleepyCat plans to galvanise analysis and improvement efforts. Centred round its premium vacuum-pressed doorstep-delivered mattresses, the corporate is increasing its portfolio of holistic sleep

merchandise to incorporate pillows, comforters and so forth.

“Within the brief time because it launched, SleepyCat has been in a position to create vital model love amongst its customers which displays within the spectacular efficiency metrics. We’re excited to accomplice with SleepyCat to make it India’s main sleep options model deeply rooted in product innovation and buyer satisfaction,” Saama Capital Companion Kiranbir Nag mentioned.

Regardless of the product being a discretionary buy, the corporate has been on a wholesome progress trajectory by way of the pandemic, Hariharan Premkumar, Head of India at DSG Shopper Companions, added. Primarily based in Mumbai, SleepyCat ships over 10,000 merchandise a month throughout classes.