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Buoyed by its tech-focused approach, Flipspaces touches Rs 300 Cr ARR

YourStoryYourStory · 1y ago
Buoyed by its tech-focused approach, Flipspaces touches Rs 300 Cr ARR
Medial

Interior design tech venture Flipspaces has achieved a 70% compound annual growth rate (CAGR) over the past three years, with a revenue run rate of INR 300 crore. By integrating cutting-edge technology into its workflow, Flipspaces has transformed the way commercial spaces are designed and built, enhancing operational efficiency and customer satisfaction. The company's proprietary tech-suite, VIZWORLD, streamlines the interior design and build process through modules such as VIZDESIGN, VIZWALK, VIZCART, and VIZCLIENT. These tools enable better project management, visualisation, supply chain management, and client communication. Flipspaces aims to revolutionize the interior design and build category through innovative technology solutions.

The Sleep Company revenue soars 2.5X to Rs 312 Cr in FY24

EntrackrEntrackr · 10m ago
The Sleep Company revenue soars 2.5X to Rs 312 Cr in FY24
Medial

Direct to consumer (D2C) mattress and sleep solution companies have been growing at a rapid clip over the past five-six years and Premji Invest-backed The Sleep Company is no exception. Keeping the momentum from FY23, its operating scale spiked 2.5X in FY24. The Sleep Company’s revenue from operations jumped to Rs 312.33 crore in FY24 from Rs 127.14 crore in FY23, its consolidated financial statement filed with the Registrar of Companies (RoC) shows. The Sleep Company offers mattresses, pillows, cushions, bedding, and office chairs. Apart from its own website, the firm sells its products across e-commerce platforms including Amazon and Flipkart. The company’s growth was primarily driven by its flagship mattress segment which contributed 65% in the revenue and surged by 89% to Rs 203.69 crore in FY24. It is worth noting that mattresses are the only finished goods sold by the company. The rest are traded goods which includes chairs, pillows and beds soared 5.6X to Rs 108.6 crore in FY24. The five-year-old company made another Rs 7.7 crore from interest income which took its total revenue to Rs 320 crore in the last fiscal year. On the expense side, a key contributor was the cost of materials, which grew 2.4X to Rs 144.74 crore in the fiscal year ending March 2024. Advertising expenses surged by 89.7% to Rs 101.43 crore, while employee benefits increased 3X to Rs 35.94 crore during the fiscal year. Rent, finance, and other expenses further drove the total costs up 2.2X, reaching Rs 378.68 crore in FY24 compared to Rs 166.7 crore in FY23. Unlike its revenue, The Sleep Company’s losses increased by 58% to Rs 58.69 crore in FY24 from Rs 37.06 crore in FY23. Its ROCE and EBITDA margin stood at -26% and -15.92% respectively. On a unit basis, it spent Rs 1.21 to earn a rupee of operating revenue in FY24. The Mumbai based company reported cash and bank balances of Rs 4.15 crore and current assets of Rs 289 crore in FY24. After a period of disruption, when mattress and related firms enjoyed some serious love from investors, it’s attrition time for the segment. The legacy firms have pulled their socks, going for acquisitions, online plays, and interestingly for this writer, offline activations like never before to protect their turf. All this has meant that the consumer ‘education’ that was driving up prices for specific needs is set to moderate, as consumers graduate with the learning as well. Questions can be seen being raised on the justification of premiums for features, and expect that to translate to more margin pressure as well. For the Sleep Company and most of the others, if not sleepless nights, some long nights await as investors wait and watch now.

The Sleep Company’s revenue spikes 60% to Rs 499 Cr in FY25

EntrackrEntrackr · 10h ago
The Sleep Company’s revenue spikes 60% to Rs 499 Cr in FY25
Medial

The Sleep Company continued its strong growth streak in the fiscal year ending March 2025. It recorded 60% year-on-year revenue growth and achieved a 34% reduction in EBITDA losses during the last fiscal year. The Sleep Company’s revenue increased to Rs 499 crore in FY25 from Rs 312 crore in FY24, according to its provisional financial statements sourced from the Registrar of Companies (RoC). The Sleep Company offers mattresses, pillows, cushions, bedding, and office chairs. Apart from its own website, the firm sells its products across e-commerce platforms including Amazon and Flipkart. The Sleep Company’s total costs rose 46% to Rs 550 crore in FY25 from Rs 376.8 crore in FY24. The cost of material formed the largest expense, accounting for nearly 40% of the total spent. This cost increased by 52% to Rs 220 crore in FY25 from Rs 145 crore in FY24. Marketing spend grew modestly by 5% to Rs 105 crore, while depreciation expenses more than doubled to Rs 12 crore. Other expenses, which include logistics, technology, and other costs added another Rs 213 crore in FY25. Despite the jump in expenses, the company managed to narrow EBITDA losses by 34% to Rs 39 crore in FY25. Its EBITDA margin also improved significantly to -7.82% from -18.91% in the previous fiscal. The Sleep Company’s ROCE remained broadly flat at -30.03% in FY25 as compared to -29.91% in FY24. On a unit basis, it spent Rs 1.10 to earn a rupee of operating revenue in the last fiscal year. As of March 2025, the company held cash and bank balances of Rs 25 crore, up from Rs 4.2 crore a year ago. Its total assets were recorded at Rs 291.5 crore while current assets stood at Rs 186.5 crore. According to TheKredible, The Sleep Company has raised a total of $105 million of funding till date, having Fireside Ventures and Premji Invest as its lead investors who own 21% and 25% of the company respectively. The company will be keeping more than just a wary eye on competitors like Wakefit, that are headed towards a possible IPO and the kicker it will provide to their marketing focus. The category itself is almost unrecognizable today in terms of players, distribution channels and sheer variety of options for consumers when compared to even 5 years back. So far, that has ensured the whole pie expands, but it won't be long before the industry runs up against a wall too high to jump over. Be it replacement inertia or unorganised players selling same size mattresses at a 30% lower price point. A differentiator like its SmartGrid technology works for a very narrow segment of the market, if at all. Going offline is also expensive, leaving the Sleep Company with some very tough choices to make to reach profitability soon.

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