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Wakefit, the homegrown D2C mattress and furniture brand you didn’t know you couldn’t live without, is making waves yet again — this time by filing its draft red
Wakefit, the homegrown D2C mattress and furniture brand you didn’t know you couldn’t live without, is making waves yet again — this time by filing its draft red herring prospectus (DRHP) with SEBI to raise a whopping Rs 468 crore!
Founded just seven years ago in 2016, Wakefit has quickly grown from a simple mattress startup into a full-fledged home furnishing powerhouse. And now, with India’s booming D2C market hungry for quality, organized brands, Wakefit is ready to take the next big step — going public.
Big-name investors like Peak XV Partners (formerly Sequoia Capital India), which owns nearly 23% of the company, will be selling off a huge chunk of shares—about 2.5 crore shares in total, almost half of the offer for sale (OFS). Other heavyweight investors including Verlinvest and Investcorp Growth are also selling, while co-founders Ankit Garg and Chaitanya Ramalingegowda plan to cash in by selling over a crore shares combined.
Wakefit’s explosive growth is impossible to ignore. In just five years, their revenue skyrocketed from Rs 199 crore in FY20 to almost Rs 1,000 crore in FY24! Even better, they’re narrowing losses and showing strong momentum, signaling they’re on track for profitability.
If you’re into the booming Indian D2C space, Wakefit’s IPO is a golden opportunity to get in on the action. This company is perfectly positioned to capitalize on India’s growing love for quality mattresses, furniture, and home décor — all sold directly online with convenience and style.
Post-IPO, expect Wakefit to ramp up product innovation, expand its footprint across India, and possibly explore global markets. Their journey from startup to market leader is just heating up!
