Online mattress start-up Wakefit targets ₹260-crore revenue in FY20

Online mattress start-up Wakefit is pushing for aggressive growth with an eye on achieving ₹260 in revenue in FY20. The start-up expects to end this fiscal with ₹80 crore in revenue and ₹8 crore in net profit, up from ₹27.6 crore revenue and ₹2.2 crore net profit in fiscal 2018.

The three year old start-up that turned profitable within six months of shipping to customers, plans to add add 50 people to its team by the year end. Flush with funds after its recent fund raise of ₹65 crore from Sequoia Capital, Wakefit which sells 8,000 mattresses a day, is doubling its production capacity from 250 mattresses a day to 500 mattresses by April and expanding its warehouse network from four, located in Bengaluru, Pune, Mumbai and Hyderabad to seven by the end of 2019.