Get All Access for $5/mo

Sleepy Owl Raises $6.5 Million In Series A Round The funds will be used for team building, expanding distribution and marketing

By Shrabona Ghosh

Opinions expressed by Entrepreneur contributors are their own.

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

Sleepy Owl

Sleepy Owl, a Delhi-based D2C company in the ready-to-drink coffee space, has raised $6.5 million in Series A funding. The round was led by Rukam Capital, DSG Consumer Partners with Dexter Capital being the financial advisor.

Sleepy Owl aims to solidify its core team, build a robust distribution network and firm up its marketing initiatives.

"The pandemic forced us to take a few steps back to aim at our target. We were agile and quick on problem-solving and were able to get back on track with higher numbers. At Sleepy Owl, we are elated on receiving the latest round of funding. We plan to utilize the funds to go deeper into our existing retail markets across India," said Ajai Thandi, co-founder of Sleepy Owl, in a statement.

Rukam Capital invests in early-stage consumer products and services companies that have exceptional growth prospects and exhibit the potential for substantial returns.

"We are thrilled to partner with Sleepy Owl Coffee and DSG Consumer Partners to strengthen the brand's pan-India presence. The company has demonstrated a strong growth pattern since its launch in 2016. With this investment, we are confident that Sleepy Owl will get the required impetus to further scale up its business and expand operations. The brand has a huge potential of being amongst the fastest-growing formats within the coffee business category," said Archana Jahagirdar, Rukam Capital's managing partner.

Sleepy Owl Coffee has a presence in 1,700-plus outlets in Delhi NCR, Mumbai, Pune, Indore, Bhopal, Chandigarh and Jammu, among other cities. The brand has over 60,000 customers. Its online presence are with the company's website, Amazon India and BigBasket, added the statement.

"Since our first investment in 2018, founders have expanded their product portfolio from cold brew to hot brew bags, drip coffee formats, ready-to-drink formats, flavoured ground coffee and have recently launched a subscription service. As it grows, Sleepy Owl is working towards making its products sustainable," said Deepak I. Shahdadpuri, managing director DSG Consumer Partners.

Shrabona Ghosh

Correspondent

A journalist with a cosmopolitan mindset. I lead a project called 'Corporate Innovations' wherein I cover corporates across verticals and try to tell stories on innovations. Apart from this, I write industry pieces on FMCGs, auto, aviation, 5G and defense. 
News and Trends

D2C Skincare Brand Foxtale Bags USD 18 Mn in Series B led by Panthera Growth Partners

With the raised capital, the Maharashtra-based skincare brand aims to scale its core digital business and concentrate on expanding into new categories.

News and Trends

Wipro Introduces Lab45 AI for Enhanced Business Solutions

With over 1000 GenAI agents and more than 10 GenAI applications, the platform claims to offer no-code and low-code pre-built applications.

Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

News and Trends

Recur Club Unveils INR 1,000 Cr Debt Offerings for Startups and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

Growth Strategies

Edtech Platforms Capitalising On CUET Coaching Market

Be it major Edtech companies, UPSC coaching centres, or neighbourhood tuition academies, everyone is testing the CUET waters to see what opportunities it holds for them.

Growth Strategies

Learn business by doing business across the Globe: The next revolution in Entrepreneurship

As the startup ecosystem sees an influx of new entrepreneurs, the question arises: Is our current business education sufficiently equipping students for the entrepreneurial challenges they will face?