Sleepycat, an online direct-to-consumer mattress startup, said on Tuesday it has raised ₹11 crore in a Series A round led by consumer focused funds DSG Consumer Partners, and Sharrp Ventures, the family office of Harsh Mariwala.
Sleepycat claims to be the first company in India to offer doorstep delivery of a 'mattress-in-a-box', a product where the mattress is vacuum pressed and delivered in compact boxes which makes logistics very efficient. The company currently sells through its own website and Amazon.
“We are very excited to partner with DSGCP and Sharrp on this journey towards building an innovative sleep solutions company. Our goal is to provide consumers with a great shopping experience and be their go-to brand for high quality sleep products at factory prices," said Kabir Siddiq, founder and CEO.
DSG, an early backer of firms such as Raw Pressery juices and Oyo Rooms, is currently investing from its $65 million third fund which it closed in August, Mint reported.
The third fund will invest in seed and Series A rounds of $500,000 to $2 million, and will invest a maximum of 15% of the fund in any one company, managing director Deepak Shahdadpuri told Mint in March.