The Sleep Company raises Rs 480 Cr in a mix of primary and secondary round
The Sleep Company will use the funding to scale manufacturing, expand in metro and Tier 1 cities, strengthen its team, and develop new comfort-tech categories.
The Sleep Company has raised Rs 480 crore in a Series D round led by ChrysCapital and 360 ONE Asset, the company said on Tuesday.
The series D round was a mix of primary and secondary capital, providing partial exit to Fireside Ventures, on of its earlier backers.
The company said it will use the funding to scale manufacturing, expand retail presence, invest in product innovation, and strengthen its core teams.
Founded in 2019 by Priyanka and Harshil Salot, the Mumbai-based company claims to have crossed Rs 700 crore in annual revenue run rate (ARR) and recorded 60% year-on-year growth in FY25. It currently operates over 150 exclusive brand outlets across India, with offline channels contributing 70% to total sales and has doubled its monthly revenue and employee base since its last fundraise.
The Sleep Company, which competes with IPO-bound Wakefit.co, Duroflex's Sleepyhead and legacy players, said it plans to use the funding to accelerate capex for new manufacturing units.
A portion would also be used to grow its presence in metro and Tier 1 cities, expand into new product categories, and further develop its SmartGRID® technology across seating and sleep-related products.
It had previously raised Rs 184 crore in Series C from by Premji Invest and Fireside Ventures and Rs 177 crore in Series B round.
"Backed by exceptional founders, the company has created a unique blend of digital discovery and immersive offline retail. With growing consumer resonance, an expanding product portfolio, and capital-efficient growth, The Sleep Company is well poised to become a category-defining brand. We’re excited to partner with Priyanka, Harshil, and the team on this journey," said Chetan Naik, Senior Fund Manager and Strategy Head - Technology, 360 ONE Asset.