D2C Brand Wakefit Secures Around 40 M From Investcorp Report
Summary
The fundraising will let the mattress and furniture company open more retail stores and expandDirect-to-consumer (D2C) ,mattress maker company, Wakefit Innovations on Friday discloses that it has raised Rs 320 crore (about $40 million) in a round led by Bahrains alternative investment firm Investcorp, according to the media reports.With this fresh round of fundraising, according to media reports, the company plans to expand and open more retail stores.Existing investors Sequoia Capital India, Verlinvest and SIG also participated in the Series D round of funding. Wakefit didnt disclose its post-money valuation.All existing investors, Sequoia Capital India, Verlinvest, SIG, also participated in a show of faith in the companys future. IndigoEdge was the exclusive advisor for Wakefit.co on the transaction.Ankit Garg, CEO and Co-Founder of Wakefit.co shared, The Series D round comes at a vital point in our growth journey as we continue to expand our presence across India. This funding round will solidify our position in the home and sleep solutions space, and will enable us to scale up our manufacturing and supply chain capabilities. We are excited to invest in WakeFit as it continues its journey towards becoming the market-leading sleep solutions and home decor omnichannel brand.