India’s first mattress-in-a-box company SleepyCat is one of the internet's highest-rated mattress brands. SleepyCat’s product portfolio includes mattresses, pillows, comforters, protectors, weighted blankets, DIY beds, and pet beds to choose from.
Since its launch in 2017, SleepyCat follows a D2C business model, with 100 percent digital distribution via its website, store, and other marketplaces like Amazon, Flipkart, Pepperfry, CRED, Bajaj, and FinServe. The brand has been growing at a rate of almost 1.5-2x annually, for the last 2 years with over 2 lakh customers.
“Our business model is to have a 100 percent online system with D2C being a major source, and in-house manufacturing set up. This helps us to maintain excellence in quality while at the same time passing on savings of logistics costs to the consumer. So we are able to deliver great quality at direct-from-factory prices,” commented Kabir Siddiq, CEO, and Founder, SleepyCat.
In August 2021, SleepyCat raised $3.8 million in a round led by Saama Capital, with participation from existing investors, DSG Consumer Partners, and Sharrp Ventures (Mariwala family office). The brand’s current Annual Recurring Revenue is Rs 80 crore, and it aims to grow sustainably while maintaining profitability.
“We aim to be a Rs 200 crore business in the next two years with double the product range and stronger bottom line,” added Siddiq.