Claiming to be profitable after the first year of inception, D2C startup Sleepsia aspires to build awareness around quality sleep accessories.
With lifestyles getting more hectic and stressful, restful sleep has become a luxury for most of us. According to a 2019 study by US-based company Fitbit, India is the second most sleep-deprived nation after Japan.
Knowing how important quality sleep is for people’s emotional and mental well-being, Punit Jindal, a Delhi-based serial entrepreneur, launched Sleepsia in 2018 in India and the US.
According to Punit, a pillow is an often ignored but essential ingredient that can ‘make or break’ correct sleeping patterns.
“We have also observed that a wrong selection of pillows is one of the primary reasons people do not have quality sleep and hence cannot get proper body rest,” he tells YourStory.
The wake-up call
In his two decades of corporate and finance experience, Punit heard many people often complain of back, knee, neck, and shoulder pain primarily due to crooked postures and incorrect sleeping positions.
Deciding to leverage the still untapped Indian sleep market, he decided to transform the “outdated sleeping habits” Indians have and uplift their emotional and mental well-being.
The startup has a team of over 30+ employees, and the founder claims its unmatched global presence gives Sleepsia an edge over its competitors. It’s India headquarters are in Gurugram.
“Our high-quality pillows are shipped across the globe, including the US, the UK, Canada, and Germany. Although our incredible range of products is at par with international quality standards, we make them available to users at highly competitive rates. All our products, including those for international markets, are manufactured in India,” says Punit.
Sleepsia’s Product range
Why Wakefit’s Ankit Garg believes experimentation, finding
the product-market fit, and validation are vital
Sleepsia aims to promote healthy sleeping habits through its
products. “We uphold that quality sleep is crucial for the emotional and
mental well-being of a person. Our products come with an ergonomic design that
targets pain points precisely, relieves pressure on these points, and enhances
overall comfort,” he adds.
Currently bootstrapped, the startup’s key offerings include
gel memory foam pillows, cervical pillows, contour-shaped pillows, half-moon
pillows, lumbar support pillows, knee-support, and orthopaedic pillows. The
company also has products for back support while working in the office or home
since they are equally to promote restful sleep.
Its gel memory foam pillows have a cooling gel effect that
provides sound sleep and one wakes up feeling refreshed. The company has a
strong QA/QC team and every product goes through extensive testing before
launch. Sleepsia also takes consumer feedback on a regular basis.
Punit claims that physiotherapists highly recommend its
contour-gel memory foam pillows for mitigating cervical pain.
Sleepsia’s pillows cost an average between Rs 1,000 and Rs
2,000.
In India, the company sells through its official website and
ecommerce platforms such as Amazon, Flipkart, Wish.com, Wayfair and Walmart,
and competes with the likes of SleepyCat, White Willow, My Armor, and Wakefit.
Overseas, its competitors include industry giants like Coop Home Goods, Casper,
Tempur-Pedic, and Dreamy Blue.
Market size and revenue
While the sleep market in the US is worth over $30 billion,
the Indian sleep market is still unexplored. The size of the Asia-Pacific sleep
aids market was worth $11.95 billion in 2021 and is estimated to be growing at
a CAGR of 6.9 percent to reach $16.68 billion by 2026.
Sleepsia aspires to build further awareness surrounding
quality sleep accessories and win over the Indian sleep industry in the coming
years.
“Though we started from the US and India, we are
presently catering to consumers’ sleep and pain relief requirements worldwide,
including countries like Canada, Germany, the UK, France, Poland, and the
Netherlands,” says Punit.
In FY20, the startup claims to have generated a revenue of
Rs 9,89,59,100 (Approx 10 crores) of which India market contributed to 14.5
percent (Rs 1,43,31,080). In FY21, Sleepsia’s revenue increased to Rs
25,71,25,522. (25.71 crores) and in the first two quarters of the ongoing
financial year (April-Oct 2021), the D2C brand claims to have clocked revenue
of Rs 9,58,59,449(9.6 crores).
“By the end of this financial year, we expect a revenue
generation of $3-3.5 million in the US market and an estimated revenue cap for
the Indian market of Rs 6-7 crore,” Punit adds.
Claiming it is profitable after 1st year of inception, the
founder says Sleepsia has catered to over 1,50,000 happy sleepers globally to
date and rolls out over 500 orders daily.
Image Credits – YS Design team
How bootstrapped White Willow is making memory foam pillows
more affordable
The way ahead
Sleepsia is now looking to raise external funding, says
Punit. “Although we have not raised any funding so far, we are open to a
fruitful association with venture capitalists in the upcoming days. For now, we
are equipped with enough funds to sustain our immediate expansion plans.”
It aims to scale up and penetrate the Tier II and III
markets in all the countries it currently operates.
Sleepsia is also in the process of launching innovative
products from its experience of the overseas market. It aims to launch baby
pillows, baby memory pillows, comforters, microfibre bedsheets, and pregnancy
pillows soon. Courtesy: www.m.dailyhunt.in
