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.
Business News

Homeowners in These 10 States Pay the Most in 'Hidden' Upkeep Costs

Hidden home costs pile on top of mortgage payments.

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.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.

Business News

Apple's AI Has a Catch — And It Could Help Boost Sales

Not every iPhone owner will get to use the new Apple Intelligence.

Business News

Y Combinator Helped Launch Reddit, Airbnb and Dropbox. Here's What I Learned From Its Free Startup School.

The famed startup accelerator offers a free course on building a business — and answers five pressing questions for founders.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.