Sleepy Owl raises $6.5M in Series A funding
Sleepy Owl recently raised $6.5 million in its Series A round of funding led by Rukam Capital and DSG Consumer Partners. The D2C brand plans to use the fresh injection of capital to solidify a core team, build and develop its distribution network across India, and invest in marketing initiatives.
Sleepy Owl co-founder Ajai Thandi stated, “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. At Sleepy Owl, we are elated on receiving the latest round of funding as it reflects investors’ faith in our business model and growth potential in the Indian market. We plan to utilise the funds to go deeper into our existing retail markets across India and add as we grow.”
The coffee brand was founded by Ajai Thandi, Arman Sood, and Ashwajeet Singh in Delhi and offers its customers coffee in a range of flavours and preparation styles.
Commenting on their investment, Rukum Capital managing partner Archana Jahagirdar said, “We are thrilled to have partnered with Sleepy Owl Coffee and DSG Consumer Partners to further strengthen the brand’s pan-India presence. The company has demonstrated a strong growth pattern since its launch in 2016, despite the pandemic.” Jahagirdar added, “With this investment, we are confident that Sleepy Owl will get the required impetus to further scale up its business and expand operations. The brand has a huge potential of being amongst the fastest growing formats within the coffee business category.”
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