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Tag: Series D

  • The Sleep Co flashes Rs 100 crore marketing purse

    The Sleep Co flashes Rs 100 crore marketing purse

    MUMBAI: The Sleep Co, India’s leading comfort-tech brand, has secured Rs 480 crores in Series D funding from ChrysCapital and 360 ONE Asset, two of the country’s most established private equity firms. The fresh capital will fuel aggressive expansion, manufacturing scale-up and a Rs 100-crore brand-building blitz as the company races to own India’s premium sleep market.

    The Mumbai-based firm has hit a Rs 700-crore annual revenue run rate and notched 60 per cent year-on-year growth in FY25, having recently opened its 150th exclusive outlet. Since its last funding round, monthly revenues have doubled and headcount has swelled from 650 to over 1,500 employees—testament to surging demand for its patented SmartGrid technology.

    Founded by husband-and-wife duo Priyanka Salot and Harshil Salot, The Sleep Co has morphed from a direct-to-consumer startup into an omnichannel juggernaut. Its offline stores now generate 70 per cent of total revenue through a “research online, purchase offline” strategy that blends digital discovery with immersive retail experiences.

    The company’s 150th store doubles as a “Sleep Lab”, featuring pressure and heat mapping tests that pit SmartGrid products against traditional memory foam. Celebrity endorser Anil Kapoor fronts campaigns like “RIP Memory Foam” that position the brand as a lifestyle choice rather than a functional purchase.

    The new funding will bankroll expanded manufacturing capacity, deeper penetration in metro and tier-1 cities, entry into adjacent comfort categories, and heavy R&D investment. The company aims to extend SmartGrid technology—originally developed for mattresses—across chairs, recliners, cushions and sofas.

    “This fundraise powers the next phase of our journey to lead the comfort-tech revolution in India,” said co-founders Priyanka Salot and Harshil Salot. “We’re scaling faster, opening more stores, expanding capacity and doubling down on innovation to transform how India sits and sleeps.”

    ChrysCapital  director & consumer sector lead Rajiv Batra said the investment represents “a compelling opportunity to participate in India’s broader premiumisation wave” as consumers gravitate towards science-led, design-first products.

    360 One Asset senior fund manager Chetan Naik called The Sleep Co “a category-defining brand” that’s “redefining comfort-tech through patented material innovation and omnichannel excellence.”

    The company has previously raised Rs 13.4 crore in pre-Series A, Rs 177 crore in Series B from Premji Invest and Fireside Ventures, and Rs 184 crore in Series C funding. Avendus Capital advised on the latest transaction.
    With strong fundamentals and a growing offline footprint, The Sleep Co is positioning itself to ride India’s wellness boom—transforming sleep from a low-involvement purchase into a premium lifestyle decision.

  • CleverTap raises $105 mn in series D funding round led by CDPQ

    CleverTap raises $105 mn in series D funding round led by CDPQ

    Mumbai: Global B2B SaaS platform, CleverTap has signed definitive agreements to raise $105 million in a series D funding round led by CDPQ, a global investment group that has committed $75 million, with participation from IIFL AMC’s tech fund, along with existing investors Tiger Global and Sequoia India.

    The funds will be used to support CleverTap’s global expansion and enhance the development of its world-class solutions and technology.

    CleverTap’s customer engagement and retention SaaS platform leverages machine learning and artificial intelligence to offer a comprehensive user engagement suite that enables brands to build valuable, long-term relationships with their customers.

    CleverTap’s subscription-based solution has been adopted by a loyal customer base of twelve hampered brands in a hundred countries, representing ten thousand apps across industries including fintech, ecommerce, subscription, on demand, and streaming media.

    Commenting on the collection, CleverTap co-founder and executive chairman Sunil Thomas said, “Our vision has been to reshape the way businesses engage with their consumers and bring technology to MarTech. The addition of long-term investors CDPQ and IIFL AMC Tech fund to CleverTap’s existing backers, Sequoia India, Accel, Tiger Global, and Recruit Holdings, is a great endorsement of the successful business we have built, the innovation we bring to the market, and the growth potential CleverTap holds.”

    “The fresh funds will help fuel our plans to further strengthen our presence in key geographies and expand our teams. The last few months have been quite exciting for us with the Leanplum acquisition and the unveiling of TesseractDB. And now, with the new institutional investors coming on board, we have all that we need to grow at a faster rate while consolidating our position as the global leader in the retention space,” he added.

    Adding to it, CDPQ executive vice president and head of private equity Martin Laguerre commented, “CleverTap has established itself as a partner of choice for its clients by helping them generate significant incremental revenue. Its subscription-based platform offers a single and reliable source of information that allows brands to maximise the lifetime value of their existing customers by engaging them in a highly personalised way.”

    He added, “As consumer brands are increasingly focused on customer retention and prioritise tools offering a tangible return on investment, we believe CleverTap is well positioned to maintain its global growth trajectory and help more businesses enhance their customer experience.”