Sleepy Owl raises $6.5 million in Series A funding from Rukam Capital, others

Ready-to-drink coffee space Sleepy Owl has raised growth capital of $6.5 million in Series A funding.

The latest round was led by existing investor Rukam Capital, followed by existing investor DSG Consumer Partners with Dexter Capital being the exclusive financial advisor on this deal.

“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,” shared Ajai Thandi, Co-Founder, Sleepy Own by adding that they plan to utilize the funds to go deeper into their existing retail markets across India.

The pandemic put a spoke in their growth plans, however, the team led by its co-founders, navigated the covid crisis and managed to come out stronger. The company is slated to close with an ARR of INR 60 cr by March 2022.

Sleepy Owl aims to solidify their core team, build a robust distribution network across India for increased demand of their brews, and firm up its marketing initiatives.

Rukam Capital invests in early-stage consumer products and services companies that have exceptional growth prospects and exhibit the potential for substantial returns.

“We are thrilled to have partnered with Sleepy Owl Coffee and DSG Consumer Partners to further strengthen the brand’s pan-India presence. The company has demonstrated a strong growth pattern since its launch in 2016, despite the pandemic,” added Archana Jahagirdar, Managing Partner, Rukam Capital.

Founded in 2016, Sleepy Owl has a compelling product portfolio which includes Cold Brew Packs, Hot Brew Bags, Ready-To-Drink Cold Brew Bottles, Ground Coffee, Brew Box and a range of Merchandise.

Co-founded by Ajai Thandi, Arman Sood, and Ashwajeet Singh, the brand has a presence in 1700+ outlets in Delhi NCR, Mumbai, Pune, Indore, Bhopal, Chandigarh, and Jammu amongst other cities, and has catered to over 60,000 customers. Their products are also available on the company’s website, Amazon India and BigBasket.