The Sleep Company raises Rs 480 crore in funding led by ChrysCapital, others

The Sleep Company, a Direct-to-consumer (D2C) startup has raised Rs 480 crore in a mix of primary and secondary funding round from private equity firm ChrysCapital and 360 One Asset.

As part of the deal, early investor Fireside Ventures made a partial exit by selling some of its shares. Cofounder Harshil Salot said the funding round was evenly divided between primary and secondary components.

Read also- Fintech startup DPDzero raises $7 million in funding led by GMO Venture Partners

“We had Fireside Ventures who was our earliest backer, they have taken a part exit in a secondary and the balance is primary. The predominant use of this fund is on development of our teams and on our retail expansion footprint,” he said.

The company plans to open 130–150 new stores over the next two years, adding to its existing network of 160 stores in 47 cities.

“We continue to see strong traction not only in the top cities but also the tier I and tier II cities and we want to continue to double down on our omnichannel strategy because we believe that is a very strong part for our business,” he added.

“This investment also represents a compelling opportunity to participate in India’s broader premiumisation wave—where consumers are increasingly gravitating towards high-quality, science-led, and design-first products that enhance everyday living,” said Rajiv Batra, director and consumer sector lead, ChrysCapital said in a statement. “We believe The Sleep Company is poised to become a dominant force not only in sleep solutions but across the wider comfort and wellness landscape.”

Advertisment

About The Sleep Company 

Founded in 2019 by husband-wife duo Harshil and Priyanka Salot, The Sleep Company offers mattresses, pillows, bedding, cushions, office chairs, recliners, and sofas. It aims to strengthen its presence in metro and tier-I cities while also growing in tier-II markets.

Harshil Salot said that about 85% of The Sleep Company’s sales come from its own website and offline stores, while the remaining 15% comes from marketplaces like Amazon and flipkart.

The company said it has reached an annualised revenue run rate (ARR) of ₹750 crore and became profitable at the EBITDA level in the last quarter.

Based in Mumbai and employing around 1,500 people, it is now increasing hiring in product development and retail, using part of the new funds for this growth.

Advertisment