D2C startup Sleepy Owl raises USD 6.5 million in Series A funding led by Rukam Capital & Others
Founded in 2016 by Arman Sood, Ajai Thandi and Ashwajeet Singh, Sleepy Owl’s portfolio includes Hot Brew bags, Ground Coffee, Cold Brew Packs, Ready-to-Drink Cold Brew Bottles, Brew Box and a range of merchandise.
The company said that it is slated to close with an ARR of ₹60 crores by March 2022. Sleepy Owl aims to build a robust distribution network across India for increased demand of their brews, solidify their core team and firm up its marketing initiatives.
“The pandemic played the role of a catapult for us. It forced us to take a few steps back to aim at the target. We were agile and quick on problem-solving, and were able to get back on track with higher numbers,” Ajai Thandi, who co-founded Sleepy Owl, said. “We plan to utilize the funds to go deeper into our existing retail markets across India and add as we grow.”
Sleepy Owl has catered to over 60,000 customers and has a presence in Delhi CR, Mumbai, Pune, Indore, Bhopal, Chandigarh and Jammu.
“Sleepy Owl is working towards making its products sustainable, reducing plastics and using paper and aluminium. They have stayed true to their mission to introduce more Indians to coffee,” said Deepak I Shahdadpuri, managing Director DSG Consumer Partners.