Mumbai-based comfort and sleep tech brand The Sleep Company has raised Rs 480 crore in fresh funding, split evenly between primary and secondary components. The round was led by ChrysCapital and 360 One Asset. Existing investor Fireside Ventures made a partial exit through secondary share sales.
Founded in 2019 by Priyanka and Harshil Salot, the brand plans to aggressively expand its offline presence, targeting 130 to 150 new stores across the country in the next two years. It currently operates 160 outlets in 47 cities. The funding will also support hiring and team development, especially across retail and product functions.
The company currently generates an annualised revenue run rate (ARR) of Rs 750 crore and reported EBITDA-level profitability in the previous quarter. According to Tracxn, it closed FY24 with Rs 320 crore in revenue and a net loss of Rs 58.7 crore. About 85 percent of its current sales come from its direct-to-consumer website and physical stores, with the rest through online marketplaces like Amazon and Flipkart.
ChrysCapital’s Rajiv Batra called the deal an opportunity to back India’s growing premium consumer wave, with The Sleep Company well-positioned to capture market share in the sleep and comfort segment.
The company’s product portfolio spans mattresses, pillows, office chairs, recliners, and sofas. While still India-focused, it is exploring global markets as part of its long-term roadmap. It also has its eye on potential acquisitions in the category, aligning with ongoing industry consolidation.
The Sleep Company’s fresh fundraise arrives as rivals Wakefit and Duroflex gear up for IPOs, signalling a growing investor appetite for home and sleep-focused consumer brands. The only listed player in the space currently is Sheela Foam, owner of Sleepwell.
