You can be on Entrepreneur’s cover!

The Sleep Company Raises INR 177 Crore In Series B Funding The fund raised will be utilised to grow the D2C business, expand retail presence and strengthen their team to build a global business

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

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

Company handout

Asia's comfort-tech pioneer and sleep-sector disruptor, The Sleep Company has raised INR 177crore in a Series B funding round led by Premji Invest and Fireside Ventures. Alteria Capital also participated in this latest round of funding. The fund raised will be utilised to grow the D2C business, expand retail presence and strengthen their team to build a global business.

"We are a company that is constantly striving to push the envelope when it comes to the experience of sleep and in the past three years, we have made remarkable strides in this direction. However, we have just touched the tip of the iceberg and our R&D team is relentless in their pursuit of further innovations. Needless to say, part of this investment will be dedicated to product and technology development, which is key to meeting our larger goal of changing the way the world sleeps and sits," said Priyanka Salot, co-founder, The Sleep Company.

The Sleep Company is the only D2C company that expand internationally and make a foray into Japan, UAE and UK. The Sleep Company grew 10 times despite the pandemic and is one of the top-selling mattress brands on e-commerce platforms such as Amazon and Flipkart, the brand is optimistic at bringing in 1000 crore in revenue within the next five years, claimed by the company in a statement.

As per capita income increases, we see higher demand across consumption categories, including comfort and The Sleep Company with its product offering is fast emerging as a brand of choice. Priyanka and Harshil are well on their way to creating a sustainable business with strong unit economics that will truly redefine home comfort and we are glad to be part of that journey with them," said Growth Investments team at Premji Invest.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

This Highly-Debated Piece of Cinematic History Just Sold For Over $700,000 at Auction

The wood panel from "Titanic" is often mistaken as a door. Either way, he couldn't have fit. (Sorry.)

Money & Finance

5 Simple Wealth-Building Tips For This Generation's Forward-Thinkers

Explore practical finance tips for young professionals striving to overcome economic challenges.

Business News

From Tom Brady to Kevin O'Leary – See Who Lost Big in the Wake of the FTX Crypto Collapse

The crash exposed an $8 billion hole in FTX's accounts, leaving investors and customers scrambling to recoup their funds.

Leadership

What We Have to Gain By Talking About Grief and Loss At Work

I lost my husband to cancer during Covid — here's how it changed how I lead at work.