CFO | Scrabble & Jigsaw
Job Description
Company information
The Sleep Company is a Comfort Tech start-up – 2019, Mumbai - disrupting the industry and revolutionizing the way people “Sleep” and “Sit”. has developed a patented a “SmartGrid" technology (patent granted in India & Japan), which, unlike memory foam, provides support to “the right parts of the body" without using springs or latex, and the mattress that intelligently adapts to its user's body shape. The Sleep Company sells a range of products, including Asia’s 1st SmartGRID mattresses, 1st SmartGRID pillow, cushions, as well as Smart beds and World’s 1st SmartGRID chair. Their products are available both online and offline.
Founders - Priyanka Salot – IIM Culcatta – Fortune 40under40, Procter and gamble – 8 years
Harshil Salot – IIM Culcutta
current CFO is there. Her health is not keeping well. 57cr last year. 140-150cr this year. Next year 300cr. 177cr funding received. More than 15-18 months runway.
Earlier only online. Now omnichannel. March 24-25 experience centers. Currently 11 operations. This month 7 more. 18 by eom.
CFO skillsets: 1. financial accounting book keeping. Experience of managing big4 auditors. reconcilation. understanding stat. 2. help founders with the right commercial decisions going forward. When they are opening a factory in north, does it make sense or no. What terms to have with vendors. 3. Investor relationships and Fund raising. - Experience of doing that. Working with bankers. working with different CM2 positive. Current Finance team - 9-10ppl.
Own manufacturing SAP1 for Business
Budget upto 1cr.
Investors have agreed to double down on the next funding. Lot of role to grow. Investors like Fireside Ventures and Premji invest and recently (Oct’22) closed their series B funding raising 177 cr led by Premji. Varun Alagh, co-founder of Mamaearth is a pre-Series A investor. Debt Fund alteria capital – 82 lakh
vision to become World’s Best Comfort Tech brand and
The recent round of funding will be focused on driving the online brand (today it is the fastest growing mattress brand in India), expanding aggressively the foot-print of offline stores to truly become an Omni-brand and double down on growth in Japan and UK.
The company manufactures its products in a 1,10,000-square-foot facility in Maharashtra and produces 1,20,000 mattresses annually. They will be doubling their manufacturing capacity and will open a second unit.
Research Links
https://www.livemint.com/companies/start-ups/sleep-company-raises-177-cr-11667415425789.html
https://www.crunchbase.com/organization/the-sleep-company
https://thesleepcompany.in/pages/about-us
Founders
https://www.linkedin.com/in/priyanka-goyal-salot-3ba9617/
https://www.linkedin.com/in/harshil-salot-7421a16/