Delhi Based D2C Coffee Brand Sleepy Owl Raises $6.5M

Sleepy Owl Coffee, a Delhi-based D2C business, announced on Monday that it had raised $6.5 million in a Series A round of funding. Previous investor Rukam Capital led the newest round, which was followed by existing investor DSG Consumer Partners, with Dexter Capital serving as the deal’s exclusive financial advisor.

Ajai Thandi, Arman Sood, and Ashwajeet Singh co-founded the company after quitting their corporate jobs to follow their mutual passion of starting their own business. The trio was also named to the prestigious ‘Forbes 30 under 30 India’ list for 2020.

Commenting on the funding, Ajai Thandi, Co-Founder, Sleepy Owl said, “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.

Commenting on the investment, Archana Jahagirdar, Rukam Capital’s Managing Partner 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.”

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