India’s sleep economy is getting a wake-up call — and a hefty injection of capital.
The Sleep Company, one of the country’s fastest-growing comfort-tech brands, has raised Rs 480 crore (approximately $55 million) in its Series D round, led by ChrysCapital and 360 ONE Asset. The move signals a pivotal moment in the evolution of India’s premium wellness and bedding category — where science, consumer behaviour, and omnichannel retail are now converging at scale.
A Category in Transition
Launched in 2019 by Harshil and Priyanka Salot, The Sleep Company is betting on India’s evolving definition of comfort and wellness. What started as a direct-to-consumer mattress brand is now repositioning itself as a holistic comfort-tech player, underpinned by its proprietary SmartGRID technology — a patented material innovation designed to deliver adaptive support for better sleep and posture.
This fundraise comes at a time when the sleep and furniture space is heating up. Rival Wakefit, backed by Peak XV (formerly Sequoia India), has already filed for an IPO. But rather than chase a public listing just yet, The Sleep Company is doubling down on category creation, R&D-led innovation, and retail footprint expansion.
Strategy in Motion: Scaling with Purpose
The newly raised capital will power three key verticals:
- Retail Expansion: Building on the momentum of its 150+ exclusive brand outlets, the company plans to go deeper into metro and Tier 1 cities, tapping the growing middle-class desire for lifestyle upgrades.
- Manufacturing Capacity: Increased investment in infrastructure will allow faster delivery timelines, wider SKUs, and greater quality control.
- R&D and Product Diversification: The firm aims to extend SmartGRID across a wider array of products, including chairs, bedding, ergonomic furniture, and possibly even health-tech adjacent categories.
The company recently reported an annual revenue run-rate of Rs 700 crore, with 60% year-on-year growth in FY25. These figures follow a dramatic leap from Rs 130 crore in FY23 to Rs 320 crore in FY24, according to data from Tracxn. However, losses have also expanded, moving from Rs 37 crore to Rs 59 crore — a familiar theme among venture-backed consumer brands scaling aggressively.
Investors Backing India’s Premiumization Wave
ChrysCapital’s Rajiv Batra summed up the investment thesis clearly: “The Sleep Company is well-positioned to become a dominant force not just in sleep, but across the wider comfort and wellness ecosystem.” The firm’s omnichannel playbook, capital-efficient growth, and science-backed innovation tick key boxes for investors betting on India’s next generation of consumer lifestyle brands.
360 ONE Asset’s Chetan Naik echoed that sentiment, calling the brand “a compelling bet” in a category that’s just beginning to mature.
Financial advisory for the transaction was provided by Avendus Capital.
Partner With Us
Want to feature your brand, business, or service on 365247 — Whether you’re looking to sponsor, collaborate, or build presence within our ecosystem, we’d love to explore it with you.
Submit your Interest Here
