Total amount raised
₹390 Millions
Latest funding date
08/01/2021
Location
SleepyCat has successfully raised funds through multiple rounds, including a Series A round that closed on August 16, 2021. The company is backed by investors such as Saama Capital and Sharrp Ventures.
Keep reading to explore the intricacies of SleepyCat's fundraising journey and the investors backing this innovative platform.
What Is SleepyCat?
SleepyCat, founded in 2017, is an online direct-to-consumer mattress and sleep solutions startup based in Mumbai, Maharashtra, India. The company was founded by Kabir Siddiq and operates actively in the consumer goods, e-commerce, and retail industries.
With an employee count ranging from 51 to 100, SleepyCat offers customized mattresses featuring orthopedic support and gel-infused memory foam. The company aims to help customers achieve their sleep goals through high-quality products and customer-friendly policies like a 100-night free trial and direct-to-doorstep delivery.
How Much Funding Has SleepyCat Raised?
Here is a detailed list of SleepyCat's funding rounds:
- Series A (September 2019)
- Amount Raised: $1.6 million
- Date: September 2019
- Lead Investors: DSG Consumer Partners, Sharrp Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial growth and expansion efforts.
- Extended Series A (August 2021)
- Amount Raised: $3.8 million
- Date: August 16, 2021
- Lead Investors: Saama Capital, DSG Consumer Partners, Sharrp Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in R&D, expand product portfolio, and enhance manufacturing and distribution capabilities.
In summary, SleepyCat has raised a total of $5.4 million in funding. The current valuation is not publicly disclosed.
Key Investors
- Saama Capital
- Details: Saama Capital is a venture capital firm that invests in early-stage companies. They led the latest funding round for SleepyCat.
- Investment Focus Areas: Technology, consumer products, healthcare
- Notable Investments: Paytm, Snapdeal, Vistaar Finance
- DSG Consumer Partners
- Details: DSG Consumer Partners is a venture capital firm focusing on consumer businesses. They participated in both funding rounds for SleepyCat.
- Investment Focus Areas: Food and beverage, personal care, lifestyle
- Notable Investments: Raw Pressery, Epigamia, Veeba
- Sharrp Ventures
- Details: Sharrp Ventures is the investment vehicle of the Mariwala family, known for their involvement in consumer goods. They are an existing investor in SleepyCat.
- Investment Focus Areas: Consumer products, services
- Notable Investments: Specific notable investments are not detailed in the sources.
What's Next for SleepyCat?
SleepyCat is poised to capitalize on the growing demand for direct-to-consumer sleep solutions and holistic wellness products. With a customer base of over 100,000 and expanding product lines, including pet bedding, the company is well-positioned to capture a larger market share. The unorganized nature of the mattress market in India presents a significant opportunity for growth.
Future fundraising rounds could be on the horizon as SleepyCat continues to innovate and expand its product offerings. The company’s focus on research and development, along with enhanced manufacturing and distribution capabilities, makes it an attractive prospect for investors. However, SleepyCat will need to navigate intense competition and maintain product quality to sustain its growth trajectory.
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