Packaged coffee brand Sleepy Owl Monday announced that it has raised $6.5 million in a Series A funding round led by existing investor Rukam Capital and DSG Consumer Partners.
With the latest infusion, Sleepy Owl aims to solidify its core team, build a distribution network across India, and use the proceeds for marketing purposes, the startup said in a statement.
Founded in 2016 by Ajai Thandi, Arman Sood and Ashwajeet Singh, Sleepy Owl sells cold brew packs, hot brew bags, ready-to-drink cold brew bottles, ground coffee, brew box suites for in-home and on-the-go consumption.
“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,” said Ajai Thandi, co-founder, Sleepy Owl.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from November 18-22, 2021.
