The Sleep Company has secured Rs 480 crore in a Series D funding round led by private equity firms ChrysCapital and 360 ONE Asset. The funds will support expansion across manufacturing, retail presence, and product innovation, with Rs 100 crore specifically allocated towards brand-building.
The company has reported a Rs. 700 crore annual revenue run rate and 60% year-on-year growth in FY25. It has doubled monthly revenue since its previous raise and now operates 150 exclusive brand outlets. Its workforce has grown from 650 to over 1,500 employees.
The Sleep Company’s growth strategy includes increasing its offline presence, entering new product categories, and extending its patented SmartGRID® technology. The brand is also investing in immersive retail experiences and campaigns aimed at strengthening consumer trust. Its ROPO (Research Online, Purchase Offline) model currently contributes to 70% of total revenue.
The funds will be used to:
- Set up new manufacturing facilities to meet demand and maintain product quality
- Expand retail operations in metro and Tier-1 cities
- Enter new comfort-related product categories
- Invest in R&D to extend SmartGRID® applications
- Strengthen internal teams across product, technology, design, and retail operations
Avendus Capital acted as the exclusive financial advisor for the transaction.
Priyanka Salot & Harshil Salot, Co-Founders, The Sleep Company, said, “This fundraise powers the next phase of our journey to lead the comfort-tech revolution in India. We’re scaling faster—opening more stores to be where our customers are, expanding capacity to meet growing demand, and doubling down on innovation to launch products that truly transform the way India sits and sleeps. As we look ahead, our focus is clear: strengthen our presence in metro and Tier-1 cities, deepen our reach in Tier-2 markets, invest further in R&D, and expand into new categories aligned with our long-term vision. This sets us up for the next three years—to scale with intent, grow sustainably, and move closer to our goal of becoming a cash-positive, innovation-first business.”
They added, “Over the years, we’ve seen a clear shift in how India views sleep and wellness: what was once a low-involvement purchase is now a lifestyle decision, with consumers actively seeking premium, research-backed solutions that offer real, tangible benefits. This funding marks an important milestone in our journey to build India’s most loved comfort-tech brand. From the start, our mission has been to reimagine comfort—something often overlooked—through science, innovation, and deep consumer insight.”
Rajiv Batra, Director and Consumer Sector Lead, ChrysCapital, said, “ChrysCapital is thrilled to partner with The Sleep Company at this pivotal moment in their journey as they redefine comfort-tech in India. In a short span of time, the founders, Harshil and Priyanka, along with the management team have built a category-defining brand anchored in innovation, customer-centricity, and operational excellence. Their patented SmartGRID® technology, omnichannel presence, and unwavering focus on product quality position them uniquely in the fast-evolving comfort-tech space.
This investment also represents a compelling opportunity to participate in India’s broader premiumization wave—where consumers are increasingly gravitating towards high-quality, science-led, and design-first products that enhance everyday living. 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, and we are excited to support them through their next phase of scalable and sustainable growth.”
Chetan Naik, Senior Fund Manager and Strategy Head - Technology, 360 ONE Asset, said, “The Sleep Company is disrupting comfort and sleep solutions through science-backed, tech-enabled approach. It is redefining comfort-tech in India through a powerful blend of patented material innovation, deep R&D focus, full-stack execution, and omnichannel excellence. Backed by exceptional founders, the company has created a unique blend of digital discovery and immersive offline retail. With growing consumer resonance, an expanding product portfolio, and capital-efficient growth, The Sleep Company is well poised to become a category-defining brand. We’re excited to partner with Priyanka, Harshil, and the team on this journey.”
The company recently opened its 150th store, designed as a 'Sleep Lab', featuring pressure and heat mapping tests to compare its SmartGRID® products with traditional memory foam. This is part of its plan to integrate in-store education with product trials.
The company’s product range has expanded beyond mattresses to include chairs, recliners, cushions, and sofas, reflecting its aim to apply SmartGRID® across multiple categories.
