ⓘ Featured image details: Sleepy Owl co-founder, From left – Arman Sood, Ajai Thandi, and Ashwajeet Singh
Delhi-based Sleepy Owl, a coffee brand yesterday announced that it has raised an undisclosed amount in a venture round from Rukam Capital, a Delhi-based Venture Capital firm that invests in early-stage consumer products and services company.
Founded in 2016 by Ajai Thandi, Arman Sood, and Ashwajeet Singh, Sleepy Owl offers ready-to-drink cold brew coffees, brew boxes and brew packs. The company last raised $500 in a seed round from DSG Consumer Partners (Singapore) back in 2018. Sleepy in a statement said that they will utilise the fresh funds to expand its operations, strengthen distribution and launch new products.
Ajai Thandi, a co-founder of Sleepy Owl in the statement thanked the investors and affirmed Sleepy Owl’s vision…
“Being backed by DSG Consumer Partners in 2018, made it much easier for us to establish and grow our brand. The latest round of funding reflects investors’ faith in our business model. We plan to utilise the funds to launch new products and go deeper in our existing retail markets Delhi and Mumbai,”
Archana Jahagirdar, managing partner of Rukam Capital commented…
“With this investment, Sleepy Owl will get the required impetus to further scale up their business and expand operations. The brand has huge potential of being amongst the fastest growing formats within the coffee business category,”