Private Equity

Other Private Equity/Strategic Investments

Sleep products firm Wakefit in talks to raise $50-M

Economic Times  

Wakefit, a sleep and home solutions company, is in talks with L Catterton Fund and other US and Indian investors to raise primary capital of USD 40-50 million (INR 300-350 crore) at a valuation of USD 350-400 million. Existing investors will also participate in the round. In December, Wakefit raised INR 185 crore in a Series B funding round led by European investment firm Verlinvest and Sequoia Capital India, which first invested in its Series A round in 2018. The founders had more than 50% stake in the company as of December, while 6-7% was with employees. Sequoia had 31.9% stake and the remaining was with Verlinvest. Its revenue grew to around INR 199 crore in FY20 from around INR 80 crore in FY19.