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Funding · Commerce & Consumer Brands

Sleepy Owl raises ₹12 crore in Series C2 funding led by Optiscape Network Holdings

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Date
Company
Sleepy Owl
What it does
D2C coffee brand
Kind
Funding
Amount
Rs 12 crore
Stage
Series C2
Founded
2016
Sector
Commerce & Consumer Brands

What they do

Sleepy Owl is a direct-to-consumer coffee brand offering premium Arabica coffee in various formats like instant coffee, cold brew packs, and brewing kits

What happened

The company raised ₹12 crore in a Series C2 round led by Optiscape Network Holdings, with participation from Pramod Bhasin, Gauri Khan Family Trust, and…

Why it matters

The funding increases Sleepy Owl’s valuation to ₹172 crore ($18.5 million), up 28% from its previous round in October 2023

The details

  • Sleepy Owl, a direct-to-consumer coffee brand, raised ₹12 crore ($1.3 million) in a Series C2 funding round led by Optiscape Network Holdings.
  • The company issued 37,944 preference shares at ₹3,162.55 per share to raise the funds.
  • Optiscape Network Holdings invested ₹5 crore, while Pramod Bhasin invested ₹2.5 crore and Gauri Khan Family Trust added ₹2 crore.
  • Existing investors DSG Consumer Partners and Rukam Capital also participated in the round.
  • The post-money valuation of Sleepy Owl increased to ₹172 crore ($18.5 million), up 28% from its previous valuation of ₹134 crore.

The bigger picture

  • Sleepy Owl has been growing its revenue significantly, doubling it to ₹44 crore in FY25.
  • The company also reduced its losses by 80% to ₹2.1 crore in the same period.
  • The funding comes after a 2.5-year gap since its last round of ₹15 crore in October 2023.

About the business

  • Sleepy Owl is an Indian coffee brand that offers premium 100% Arabica coffee in various formats such as instant coffee, hot and cold brew packs, ready-to-drink cold brews, ground coffee, and brewing kits.
  • The company focuses on convenience and high-quality flavor in its products.
  • It operates as a direct-to-consumer (D2C) brand, selling its products online.
  • Sleepy Owl competes with other Indian coffee brands like Subko Coffee, Blue Tokai, Rage Coffee, Slay Coffee, and abCoffee.
  • The company was founded in 2016 and has been expanding its product portfolio and customer base over the years.

The deal

Type
funding

Investors

  • Optiscape Network Holdings (lead) — A private equity firm focused on investing in consumer and technology businesses.
  • Pramod Bhasin (investor) — A venture capitalist and angel investor with a focus on consumer and tech startups.
  • Gauri Khan Family Trust (existing) — A private investment vehicle associated with Bollywood actor Gauri Khan.
  • DSG Consumer Partners (existing) — A venture capital firm focused on consumer and retail businesses.
  • Rukam Capital (existing) — A venture capital firm investing in early-stage consumer and technology startups.

Founders

  • Ajay Thandi, co-founder
  • Arman Sood, co-founder
  • Ashwajeet Singh, co-founder

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