Get All Access for $5/mo

How a Direct-To-Consumer Mattress Start-up Raised INR 11 Cr In Funding The start-up intends to use the funds for brand building, launching new products and growing the management team.

By Debroop Roy

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Sleepycat
Sleepycat founder Kabir Siddiq

In a first round of institutional funding, direct-to-consumer online mattress start-up Sleepycat has raised INR 11 crore. The Series A round was led by DSG Consumer Partners & Sharrp Ventures. As part of the deal, Hariharan Premkumar from DSG and Sharrp's Chaitanya Deshpande will join the company's board of directors.

"The positive ratings and reviews the brand has received since inception are lead indicators of their potential," Sharrp's founder Rishabh Mariwala said in a statement.

Founded in 2017, Sleepycat claims to be the first company in India to offer direct delivery of a "mattress-in-a-box" to one's doorstep. Currently, the Mumbai-based start-up's mattresses are available through its website and via Amazon.

The company said the capital raised would be used to build online presence of the brand through partnerships, for new product launches and growing the management team.

Debut on Amazon

Sleepycat made its debut two years ago through the Amazon launchpad programme that helps start-ups across the globe sell their products to the millions of customers shopping on the e-commerce site.

Related: These 3 Global Tech Giants are Betting Big on Indian Start-ups

In the first week of its launch on Amazon, the company sold over 30 mattresses. Sleepycat said it now sells more than 1,500 mattresses every month. On its own website, the company's original 6-inch mattress meant for a single person is available at a price of little less than INR 10,000.

Providing a Differentiated Experience

With operations spread across seven major cities in India, the company has one-day delivery available for certain products in Mumbai and Bengaluru. It also offers a ten-year warranty on its mattresses.

Sleepycat's mattresses are orthopedic and come with a removable cover. Adding to the perks of being a customer is the company's offer that allows one to get a mattress for a 30-day period on a trial basis.

Competitive Pricing

According to comparisons provided on Sleepycat's website, a luxury king-size mattress bought from traditional retail would likely cost about twice of what the start-up charges.

"Our goal is to provide consumers with a great shopping experience and be their go-to brand for high quality sleep products at factory prices," Sleepycat founder Kabir Siddiq said in the statement.

Debroop Roy

Former Correspondent

Covering the start-up ecosystem in and around Bangalore. Formerly an energy reporter at Reuters. A film, cricket buff who also writes fiction on weekends.
Growing a Business

The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity

Discover the top 5 AI tools for marketing and content creation that every marketer needs to know.

Business News

Jake Paul Says He's 'Scared' to Fight Mike Tyson, But This Mindset Hack Helps Him 'Embrace' Fear and Make Millions: 'Let It Fuel You'

The social media star and "W" founder spoke to Entrepreneur about his latest ventures in boxing and business.

Science & Technology

No More ChatGPT? Here's Why Small Language Models Are Stealing the AI Spotlight

Entrepreneurs can leverage this growing tech to create innovative, efficient and targeted AI solutions.

Business News

How to Build a Successful Startup, According to an Investor Who Made Early Bets on Twitter, Lyft, and Twitch

He's found a few patterns after nearly two decades of investing in startups.

Marketing

10 Effective Growth Marketing Hacks and Strategies for Your Startup

Working at a startup can feel like building a plane while you're trying to take off. Use these ten marketing tips to effectively grow and sustain your startup.