Sleepy Owl, a Delhi-based start-up in the ready-to-drink coffee space, has raised an undisclosed amount as growth capital in their latest round of funding. This round was led by Rukam Capital and existing investor DSG Consumer Partners & AngelList India also participated. The brand will use the proceeds from the current round of funding to expand operations, strengthen distribution and launch new products.
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. The trio gave up their corporate jobs to pursue their shared dream of building their own venture. They have been included in the coveted ‘Forbes 30 under 30 India’ for the year 2020.
With a core focus on product development and innovation, the brand offers two product categories — hot brew and cold brew. Curated for the discerning brew seekers, Sleepy Owl’s hot brew bags form an intense flavour in under five minutes. Under the cold brew category, the company retails cold brew packs and ready-to-drink bottled coffee in various flavours.
Speaking on the funding, Ajai Thandi, Co- Founder, Sleepy Owl said, “The coffee lovers’ landscape has evolved across the globe and the cold brew coffee concept has gradually seeped into the Indian markets as well. We entered the market as pioneers in the space and helped educate the Indian consumer about cold brew coffee. Being backed by DSG Consumer Partners in 2018, made it much easier for us to establish and grow our brand.”“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,” he added.
Sleepy Owl today 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.