New Delhi-based ready-to-drink coffee brand, Sleepy Owl, has raised $6.5 million in a Series A funding round led by existing investors Rukam Capital and DSG Consumer Partners.
Founded in 2016, Sleepy Owl’s portfolio includes cold brew packs, hot brew bags, ready-to-drink cold brew beverages, ground coffee and a brew box. The funds will be used to strengthen the company’s core team, expand its distribution network across India and ramp up its marketing initiatives.
Sleepy Owl’s co-founder, Ajai Thandi, said: “We plan to utilise the funds to go deeper into our existing retail markets across India and add as we grow”.
Rukam Capital’s managing partner, Archana Jahagirdar, added: “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.”
DSG Consumer Partners’ managing director, Deepak Shahdadpuri, said: “Since our first investment in 2018, founders Ajai [Thandi], Arman [Sood] and Ashwajeet [Singh], 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.”
Sleepy Owl is available in over 1,700 outlets across India.