D2C home solutions startup Wakefit raises $28 mn at a valuation of $380 mn

Direct-to-consumer startup Wakefit, a home and sleep solutions company, has raised $28 million in a Series C round at a valuation of approximately $380 million. SIG, a global trading and investment firm headquartered in Pennsylvania, led the round, while Sequoia Capital India and Verlinvest participated in the round as existing investors.

The startup is on track to achieve sales of Rs 700 crore in FY22 despite being impacted during April and May 2021 due to the second wave of the pandemic. In October 2021, the festive sales period, the company sold over 100,000 mattresses, clocking revenues of more than Rs 100 crore. The home and sleep solutions company expects this demand to continue to surge over the next few months.