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It has been rated 4 stars by verified customers. Customers stated that it is Super Comfortable.

The Sleep Company: How It is Revolutionising Comfort and Redefining the Future of Sleep

Q: What are Smart Grid Mattress?

The Mattress Intelligently adapts to every human body type. Smart Grid helps distribute weight and hence provides comfort to different body parts.

📄Company Profiles

Chayanika Goswami, Sahil Nayar

Nov 19, 2024 — 10 min read

The Sleep Company - Healthy and Happy Sleep

Sleep is quintessential for an individual to perform their best, profession be what may. Especially in the present scenario where every person seems to be racing with time, there seems to be ignorance when it comes to the most basic yet essential needs like sleep and personal health. The Sleep Company, with the help of sleep science, has been engaged in producing sleep products that ensure healthy and happy sleep to its customers. With the help of smart grid technology, It provides the best sleeping mattress online.

The Sleep Company is a Mumbai-based startup that is set to alter the unhealthy sleeping patterns of most individuals.

In this article, let's explore the world of The Sleep Company—its founders, business model, funding, growth, and more.

The Sleep Company - Highlights

Startup Name	The Sleep Company
Headquarters	Mumbai, Maharashtra, India
Industry	Furniture and Home Furnishings Manufacturing
Founders	Priyanka Goyal Salot and Harshil Salot
Founded	2019
Website	thesleepcompany.in

The Sleep Company - About

The Sleep Company provides products that can help upgrade the quality of sleep for the consumers out there. Their first product that has been launched is The Sleep Company Smart Grid Mattress.

With a mission to upgrade the quality of sleep for each and every one, The Sleep Company has conducted drive awareness for Smart Grid Technology for sleeping products like mattresses to be the one-stop solution for Happy and Healthy Sleep. Ultimately, The Sleep Company wants to improve the lives of consumers and provide products that are truly delightful.

The column structure of the Smart Grid is designed to intuitively adapt to the contours of an individual's body. This occurs when the walls firmly support the back to maintain a straight spine while buckling down on smaller body parts, like the hips and shoulders, to hug them. This guarantees that a person can easily and comfortably sleep through the entire night. As a result, it addresses the primary issues of improving and increasing sleep quality as well as relieving or eliminating neck, back, or other types of physical pain. The ultimate comfort and pain relief have been demonstrated by the patent-pending Smart Grid Technology.

There are certain key gaps that The Sleep Company wants to bridge; these include:

Humans spend one-third of their life on a mattress and sleep has become one of the most “deprived” yet most “critical” part of our life. More than half of the population struggle with some or the other sleep problems—some form of body pains, insomnia, lifestyles issues—and sadly, this category has been the one where we have not seen much innovation.
Need for a more efficient and transparent buying process: Cut all middlemen to offer the best possible pricing and make the buying experience more pleasurable than stressful as of today.

The Sleep Company - Industry

The COVID-19 epidemic contributed to the substantial growth in the furniture business in 2021, as individuals invested in creating more comfortable living spaces and spent more time at home. But in 2022, as COVID-19 limits were loosened and inflation increased, the market faced serious difficulties.

As per Statista, the Indian furniture business brought in US$5.48 billion in sales in 2024, and it is expected to rise at an annual pace of 6.42% (CAGR) between 2024 and 2029. The industry is booming because of things like a rising middle class and a greater focus on interior design. According to Statista, e-commerce platforms' accessibility has played a major role in this achievement.

The Sleep Company - Founders and Team

Priyanka Goyal Salot and Harshil Salot are the co-founders of The Sleep Company.

Priyanka Goyal Salot

Priyanka, being passionate about brand building, focuses on marketing and consumer growth. She graduated from IIM Calcutta in 2009 and then worked for 8 years in the industry, working at P&G as the country category leader for brands like Ariel, Tide, and Pampers.

Harshil Salot

Harshil manages finance and manufacturing. He graduated from IIM Calcutta in 2009 and then worked for a year in financial strategy. Post that, Harshil started heading the family business, where he developed a huge knack for manufacturing world-class products to export to European and US markets.

The Sleep Company - Startup Story

It is a popular belief that personal experiences always lead us to do something bigger in a better manner, and this holds true for the founders of The Sleep Company.

With a determination to find the solution, they have traveled across the globe to understand and to do research on different sleep technologies and how they could really develop something that is far superior to what is on the market today. They looped in sleep experts and scientists from DRDO to work on new technology, and after two years of research, Smart Grid Technology was born, proven to provide Ultimate Comfort & Pain Relief.

So as to get validation for their product, Priyanka and Harshil relied on two sources:

First, being technical validation, they performed tests like pressure mapping for Smart Grid Mattress vs. other kinds of products like memory foam, coir, spring, or latex mattresses.
In-market study with consumers to see how tangibly the products helped provide comfort and prevent body pains like back pain, and neck pain.

The ideation for products at The Sleep Company started in 2017. R&D was the phase where they spent a lot of time so as to ensure that they developed a product that was far superior and delivered on its promise. After R&D, they designed products by putting together a lot of combinations and testing them with their consumers.

Finally, The Sleep Company has established their manufacturing unit to ensure the best quality products, where each layer of The Sleep Company mattress has been designed with Sleep Science as the foundation.

The Sleep Company - Mission and Vision

The Sleep Company mission is to enhance people's sleep quality and provide them with the restful night's sleep they deserve since they take comfort extremely seriously.

To Become World's Best Comfort Technology Company, changing the way people Sleep & SIT. The Sleep Company is obsessed with customer service and keeping the customer happy, always. As we all know, customer is king, and we at The Sleep Company believe in just that. We are not happy until you are completely satisfied and we will not sleep until we do our best to give you the best sleep of your life. Which is why we believe in excellent customer service to be at your aid 24/7.

The Sleep Company - Name, Tagline and Logo

The Sleep Company Logo

As the name suggests, The Sleep Company is here to ensure that they be the one-stop solution for anything that can help upgrade the quality of "Sleep" for everyone.

The Sleep Company - Business Model

The Sleep Company has implemented a direct-to-consumer (D2C) business model as a means of strategically positioning itself within the industry. By using this strategy, the business avoids using traditional retail channels and offers its cutting-edge goods directly to consumers via its website and other online platforms. These products include mattresses with SmartGRID technology, beds, chairs, pillows, and more.

Company is able to maintain competitive pricing and more control over the client experience thanks to their direct-to-consumer (D2C) strategy. The company prioritizes product innovation, working on research and development projects with professionals such as Dr. Tripathi, an ex-DRDO scientist, and leveraging SmartGRID technology to improve the comfort and quality of its products. With a wide range of products and a dedication to providing outstanding customer service, The Sleep Company has effectively carved itself a position in the market by prioritizing innovation, technology, and direct customer engagement.

The Sleep Company - Challenges Faced

The Sleep Company had several challenges when it set out on its innovative path, especially when developing the ground-breaking Smart Grid technology. The crew traversed a difficult but worthwhile route, navigating everything from the nuances of R&D to the complexity of manufacturing. They overcame the obstacles to create a distinctive and ground-breaking device that completely transforms the sleeping experience.

But the lack of a national asset-light fulfillment network created more obstacles for The Sleep Company's growth trajectory. This created significant challenges that caused order fulfillment delays and pickup problems, particularly for large shipments. The business decided to develop a single Air Waybill for Multi-Parcel Shipments after seeing the necessity for operational efficiency. The delicate nature of their robust yet plush mattresses added to the challenge, creating worries about possible product damage. The Sleep Company's drive for expansion necessitates handling logistical intricacies such as product preservation, pickup scheduling, and delivery delay mitigation.

The Sleep Company - Funding and Investors

The Sleep Company has raised total of $49.3 million in over four rounds of funding.

Here are the funding details:

DATE	STAGE	AMOUNT	INVESTORS NAME
Dec 6, 2023	Series C	$22.1 million	Fireside Ventures, PremjiInvest
Nov 3, 2022	Venture Debt	$991K	Alteria Capital
Oct 25, 2022	Series B	$21.4 million	Premji Invest, Alteria Capital
Jul 1, 2021	Seed Round	$5.85 million	Fireside Ventures

The Sleep Company - Shareholding

As per Tracxn, below is the shareholding pattern of The Sleep Company (as of December 2023):

Shareholder	Percentage
Priyanka Goyal Salot	49.4%
Premji Invest	23.8%
Fireside Ventures	19.8%
ESOP Pool	5.8%
Others	1.2%

The Sleep Company - Growth

The Sleep Company accomplished an amazing feat in November 2021 by celebrating its second anniversary with a stellar INR 100 crore run rate. This laid a solid foundation for the company to attain the INR 1,000 crore milestone within the next four to five years. With an astounding 400% growth in just two years after its founding, the company has quickly risen to the position of one of the top four brands on Amazon. Company is trusted by over 200,000 customers.

The Sleep Company stands out in a congested industry thanks to its unrelenting dedication to innovation, which is demonstrated by their cutting-edge products that come with patented SmartGRID technology. The Sleep Company's quick expansion indicates that the market is embracing its cutting-edge and unique products, even if other mattress manufacturers continue to use memory foam that is decades old.

Financials

The Sleep Company Financials	FY23	FY24
Operating revenue	INR 127.1 cr	INR 312.3 cr
Total expenses	INR 166.7 cr	INR 378.7 cr
Profit/Loss	Loss of INR 37.06 cr	Loss of INR 58.69 cr
EBITDA Margin	-26.47%	-15.92%

The Sleep Company - Advertisements and Social Media Campaigns

The Sleep Company Campaign

With two talented co-stars and Anil Kapoor leading the way, the powerful message "Raat Ke 2 Baje, Neend Ke 12 Baj Gaye?" ensures a comfortable night's sleep. Kapoor's speech strives to connect with the viewer by highlighting the universal desire for quiet evenings and encapsulating the heart of the film through relatable heroes fighting sleep disturbances.

The Sleep Company x Sima Taparia Ad Campaign

The Sleep Company teams up with matchmaker Sima Taparia for a new campaign promoting its SmartGRID mattress. The fun ad highlights comfort in relationships and mattresses, with a 10-year warranty and a 100-night free trial.

The Sleep Company - Competitors

Some of the top competitors of The Sleep Company include:

Wakefit
Sunday Mattress
Flo
Sleephyhead

The Sleep Company - Future Plans

The Sleep Company has been lucky to get a lot of love from the customers in the first few months of launch only. Their objectives going forward is to continue providing great products and services and ramp up their manufacturing.

The Omnichannel mattress brand, The Sleep Company, plans to launch an IPO by FY 2027, aiming to expand its market presence and strengthen its growth trajectory.

FAQs

Who is the Founder of The Sleep Company?

Priyanka Goyal Salot and Harshil Salot are the Co-Founders at The Sleep Company.

What does The Sleep Company do?