India-based Sleepy Owl Coffee, a D2C coffee brand that conveniently offers excellent coffee, raised USD 6.5 million on 22nd November.
Investors: The investment round was led by existing investors Rukam Capital and DSG Consumer Partners.
Purpose of funding: As part of the new capital, the company will enhance its core team. It will include adding new hirings in product and tech teams to expand their reach. Further, the company will increase its marketing initiatives and expand its distribution network across India.
About Sleepy Owl Coffee
Founded in 2016 by Ajai Thandi, Arman Sood and Ashwajeet Singh, Sleepy Owl Coffee is located in New Delhi, India. Sleepy Owl Coffee is a D2C coffee brand that offers excellent coffee most conveniently. The company sells hot and cold coffee and ready-to-drink mixes, merchandise, and other products related to coffee. Over 60,000 customers have been served by its 1700+ stores in Delhi NCR, Mumbai, Pune, Indore, Bhopal, Chandigarh, and Jammu, among other places. It hopes to tap into the growing coffee culture in India by selling its products online and through third parties. In addition to the company’s website, the company’s products are available on Amazon India and BigBasket. The company scored a big growth after COVID-19 and is more visible to their customers online.
What the founder has to say
“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. We plan to utilize the funds to go deeper into our existing retail markets across India and add as we grow,” said Ajai Thandi, co-founder at Sleepy Owl Coffee.
What the investors have to say
“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. 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,” said Archana Jahagirdar, Managing Partner at Rukam Capital.
“Sleepy Owl’s growth is driven by continuous innovation and an obsession, being the most loved coffee brand in India. Since our first investment in 2018, founders Ajai, Arman and Ashwajeet, have expanded their product portfolio from Cold Brew to Hot Brew bags, drip coffee formats, ready-to-drink formats, flavoured ground coffee, and have recently launched a subscription service. As it grows, Sleepy Owl is working towards making its products sustainable, reducing plastics and using paper and aluminium. They have stayed true to their mission to introduce more Indians to coffee,” said Deepak I. Shahdadpuri, Managing Director at DSG Consumer Partners.
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