Duroflex raises $60M from Silicon Valley-based Norwest
Duroflex, parent company to D2C mattress brand Sleepyhead, recently raised an investment of $60 million in a new round of funding from Silicon Valley-based investment firm Norwest. The latter has invested in companies like Swiggy, Mensa, and Uber, among others.
The omnichannel mattress company claimed that it has seen a 3x growth through retail and online expansion. Furthermore, 33 percent of its revenue is,reportedly, generated from e-commerce platforms since 2018.
The company launched D2C mattress provider Sleepyhead in 2017 to cater to a growing online demand for mattresses. Sleepyhead offers direct-to-doorstep delivery and boasts a 100-day satisfaction guarantee wherein it claims to refund any customer who is unsatisfied with the mattress. The brand claims to have served over 100 thousand customers till date and has diversified its product offerings to include sofas, sofa beds, recliners, beds, and bedding accessories.
Duroflex also counts Lighthouse as an investor. It last raised $32 million from the latter three years ago.
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