The Sleep Company is an India-based comfort-tech brand built around its patented SmartGRID® technology that began with mattresses and has expanded into chairs, recliners, cushions, sofas and other ergonomic solutions. The company operates an omnichannel ROPO model with offline retail contributing 70% of total revenue and has opened its 150th exclusive brand outlet presented as experience-led Sleep Labs. The Sleep Company has crossed a Rs. 700 crore annual revenue run rate, recorded 60% year-on-year growth in FY25, doubled monthly revenue since its last raise, and grown headcount from 650 to over 1,500 employees. The newly raised capital will be used to accelerate CAPEX including new manufacturing facilities, deepen offline presence (especially in metro and Tier-1 cities), enter new comfort categories, and extend SmartGRID® across everyday use cases. Management also plans to invest in R&D, product innovation, and strengthen product, technology, design, and retail teams as it aims to scale sustainably and move toward becoming a cash-positive, innovation-first business. Avendus Capital acted as exclusive financial advisor on the transaction. The Sleep Company designs and sells SmartGRID-based mattresses, pillows, office chairs and other sleep/comfort products, and operates a ‘Sleep Lab’ to educate customers. The company deploys technology, science and ergonomics across its product range and plans to diversify offerings further. It currently has 60 stores across 20 cities and an online contribution of about 50 percent. Management plans rapid retail expansion to reach 100 stores in the next six months and to open seven–eight stores monthly over the next 1.5 years, aiming to shift offline contribution to ~65 percent. Financially, the company reported ARR of over ₹350 crore as of September 2023 and ended FY22 with revenue of ₹56 crore (up from ₹11.8 crore in FY21). The Sleep Company is a Mumbai-based comfort technology company founded in October 2019 by IIM graduates Priyanka and Harshil Salot. It sells mattresses and other comfort products built on a patented SmartGRID hyper-elastic polymer developed by ex-DRDO scientists that the company says replaces memory foam, springs, and latex. Products are sold online via Amazon, Flipkart and the company's website. The startup says it has been profitable since inception and grew revenues 10X post-Covid. The Rs 13.4 crore pre-Series A will be used to enhance R&D, hire talent, increase manufacturing capacity, expand distribution, invest in branding, and pursue global market expansion. Dipanjan Basu of Fireside Ventures will join the company's board; the round was led by Fireside with participation from LogX Ventures and Varun Alagh.

Total raised

$79M

Funding rounds

3

Latest round

Series D

Latest activity

Aug 2025