SleepyCat raises $3.8M from Saama Capital, DSG Consumer Partners, Sharrp Ventures

Start-up for Sleep Solutions SleepyCat announced on Monday that it has raised $3.8 million in a funding round led by Saama Capital and existing backers DSG Consumer Partners and Sharrp Ventures (Mariwala family office) joined this round as well.

According to the company, this is its second external funding round since its inception, following a $1.6 million round led by DSG Consumer Partners and Sharrp Ventures in September 2019.

Speaking on the development, Kabir Siddiq, Founder & CEO, SleepyCat said, “We are excited to partner with Saama Capital along with the continued support of DSG Consumer Partners & Sharrp Ventures in our journey. SleepyCat is disrupting an existing category with purpose-driven products designed to increase the comfort and self-care quotient further up for the Indian consumers.”

He went on to say that with the new funds, the company will focus on design innovation and building sleep solution products, as well as expanding its manufacturing and distribution capabilities.

The D2C start-up, founded in 2017, has a product portfolio that includes mattresses, pillows, comforters, protectors, a DIY bed, and pet beds. According to the Mumbai-based premium D2C brand, it has quickly expanded to serve over a lakh customers across India. It has also expanded its portfolio of holistic sleep wellness products to include pillows and comforters, among other things.

SleepyCat is backed by three investors. According to Crunchbase, the most recent investors are Gemba Capital and Sharrp Ventures.

SleepyCat, known for its premium vacuum-pressed doorstep-delivered mattresses, has expanded its product portfolio to include a premium range of bedroom comfort products such as pillows, comforters, and beds.

With its fluffy and orthopedic pet bed offerings, the brand has also entered the pet bedding category.

“Self-care has been largely neglected over the years but the pandemic has made users more aware of self-wellness and has drawn greater focus to making informed choices. A good night’s sleep is an integral part of overall wellness. In the short time since it launched, SleepyCat has been able to create significant brand love amongst its users which reflects in the impressive performance metrics,” said Kiranbir Nag, Partner at Saama Capital.

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