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

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.