Direct-to-consumer (D2C), mattress & furniture maker company, Wakefit has raised Rs 320 cr (about $40 mn) in a round led by Bahrain’s alternative investment firm Investcorp.
The company intends to grow and add more retail locations using the proceeds of this new investment round, as per reported by BW Disrupt.
Existing investors Sequoia Capital India, Verlinvest and SIG also participated in the Series D round of funding.
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Ankit Garg, CEO and Co-Founder of Wakefit.co shared, “The Series D round comes at a vital point in our growth journey as we continue to expand our presence across India. This funding round will solidify our position in the home and sleep solutions space, and will enable us to scale up our manufacturing and supply chain capabilities. We thank our investors for their support and trust in our journey of becoming a market leader in our space.”
Wakefit has now been in existence since 2016. They have served more than 8 lakh clients, sold more than 18 lakh products, and invested at least 1500 hours in research & development over the past few years.
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Varun Laul, Partner, Investcorp PE, said. “ We are excited to invest in WakeFit as it continues its journey towards becoming the market-leading sleep solutions and home decor omnichannel brand. The investment aligns with Investcorp’s thesis on increasing the consolidation of unorganised sectors by emerging consumer brands. We look forward to supporting Ankit and Chaitanya in profitably scaling this business and taking WakeFit public in the future.”
About Wakefit
Wakefit is the place to go in India if you’re looking for the most reputable mattress store and brand.
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