The First Company in India to Offer Doorstep Delivery of a 'Mattress-In-A-Box'
Sleepycat, an online direct-to-consumer mattress and sleep-solutions company, was founded by Kabir Siddiq in August 2017. Its mission is to disrupt the sleep category and it is 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 website and Amazon. The brand has seen healthy traction in all channels and is among the top-selling brands on Amazon. The company offers high-quality mattresses at very competitive price points.
DSG Consumer Partners and Sharrp Ventures led this first round of institutional funding with participation from Gemba Capital and other angel investors. The capital raised in this round will be invested towards building the online presence of Sleepycat through channel partnerships, new product launches and building out its management team. The company currently sells 1,500 mattresses a month.
Sleepycat is an online direct-to-consumer brand that develops and markets mattresses and allied sleep products in India. The brand's current product portfolio includes memory foam mattress, latex mattress (for adults and babies), waterproof mattress protector, platform bed base and pillows. The company currently ships pan-India through their website and Amazon.
Deepak Shahdadpuri, managing director of DSG Consumer Partners, said, "Good sleep quality is critical when it comes to health and wellness, and has become a luxury in the contemporary age. Given that the average person sleeps for a third of their life, the sleep solutions segment has seen little disruption or innovation in India. Sleepycat provides a compelling experience for the customer by simplifying choice at the time of purchase, employing lean distribution channels that enable attractive pricing and offering a 30-day trial period. The brand has been recognized as one of the best mattress brands by Amazon. The company has exciting new sleep solutions products in the pipeline. We are excited to partner with Kabir to build India's leading sleep solutions brand. It also is a rare specimen for a start-up in being profitable at the time of our investment."
Sleepycat's product portfolio includes a memory foam mattress, latex foam mattresses, waterproof mattress protectors which come as fitted bed covers, 100% organic breathable latex mattress for babies, innovative platform bed base which requires no tools for assembly, and pillows, to complement the existing range of mattresses.
Commenting on the fundraise, Kabir Siddiq said, "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. We are looking to build our team, infrastructure and technology with the infusion of funds and happy to have found the right support during this journey."
DSG Consumer Partners (DSGCP) is an early-stage venture capital fund focused on investing exclusively in consumer brands and businesses in India and South-East Asia. Hariharan Premkumar (DSG Consumer Partners) and Chaitanya Deshpande (Sharrp Ventures) will join the Board of Directors.
