Bengaluru-based sleep and home solutions startup Wakefit.co has raised Rs 185 crore Series B funding led by the European investment firm Verlinvest and existing investor Sequoia Capital India. The company said the latest round of funding will be deployed to accelerate the company’s strategic expansion to newer markets, foster product innovation, and leverage technology to deepen its consumer-first approach.
The team is targetting a revenue of Rs 2,500 crore by FY23. It stated it has grown rapidly but profitably since its inception, with revenues growing from Rs 80 crore in FY 2019 to Rs 199 crore in FY 2020, as per audited financial statements.
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