D2C Coffee Brand Sleepy Owl Raises $6.5M In Series A Funding
Sleepy Owl Coffee, a Delhi-based D2C brand, has raised growth capital of $6.5 million in Series A round led by existing investor Rukam Capital, followed by existing investor DSG Consumer Partners.
As per the startup, the newly raised funds will be used to solidify their core team, build a robust distribution network across India for increased demand of their brews, and firm up its marketing initiatives.
Sleepy Owl Coffee
Co-founded by Ajai Thandi, Arman Sood, and Ashwajeet Singh, Sleepy Owl Coffee aims to redefine the in-home coffee experience. As per the startup, their coffee is made fresh, every day and shipped across India.
Speaking on the development, Ajai Thandi said,
“The pandemic played the role of a catapult for us. It forced us to take a few steps back to aim at the target. We were agile and quick on problem-solving, and were able to get back on track with higher numbers. At Sleepy Owl, we are elated on receiving the latest round of funding as it reflects investors’ faith in our business model and growth potential in the Indian market.”
Ajai added that the startup plans to utilise the funds to go deeper into our existing retail markets across India and add as they grow.
Archana Jahagirdar, Managing Partner at Rukam Capital, also commented on the funding round and added that the team is thrilled to have partnered with Sleepy Owl Coffee and DSG Consumer Partners to further strengthen the brand’s pan-India presence.
“With this investment, we are confident that Sleepy Owl will get the required impetus to further scale up its business and expand operations. The brand has a huge potential of being amongst the fastest growing formats within the coffee business category,” Archana added.
Rukam Capital is an early-stage consumer product-focused fund that invests in consumer products and services companies that have exceptional growth prospects and exhibit the potential for substantial returns.
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