Delhi-based Sleepy Owl has raised an undisclosed amount as growth capital in their latest round of funding. Sleepy Owl is a start-up in the ready-to-drink coffee space.
This round of funding was led by Rukam Capital. Existing investors of Sleepy Owl DSG Consumer Partners & AngelList India also participated in this round of funding.
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 and DSG Consumer Partners to further strengthen the brand’s pan India presence. The company has demonstrated a strongg growthpattern since their launch in 2016. With this investment, we are confident that Sleepy Owl will get the required impetus to further scale up their 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, Rukam Capital’s Managing Partner.
According to a statement, the brand plans to use the proceeds from the current round of funding to expand operations, strengthen distribution and launch new products.
Sleepy Owl Co- Founder, Ajai Thandi believes that “The coffee lovers’ landscape has evolved across the globe and the cold brew coffee concept has gradually seeped into the Indian markets as well."
Speaking about the funding, he added, "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 utilise the funds to launch new products and go deeper in our existing retail markets Delhi and Mumbai.”
Sleepy Owl has a presence in 1,000+ outlets in Delhi and Mumbai and has catered to 60,000 customers. Their products are also available on the company’s website and Amazon.
Founded in 2016, Sleepy Owl sells ready-to-drink cold brew coffees, brew boxes, brew packs and brew bags. The company was co-founded by Ajai Thandi, Arman Sood and Ashwajeet Singh.