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Failed in his first two startups and then built a 2300 CR company. 1. Born in a middle-class household in Karnataka, Chaitanya Ramalingegowda made everyone proud when he got admission to study computer science at Visvesvaraya Technological University, followed by an MBA at ISB Hyderabad. But life took a turn. 👇🏻 2. He started a dating meetup app - TwolyMadlyDeeply, which shut down due to weak monetisation. Another venture in the media space also shut down due to a lack of product-market fit. After failing at his two startups, he was not going to give up this time. 🙌 3. He met another friend (Ankit) in misery, who was struggling with back pain. There was no quality sleeping mattress. The market was dominated by legacy brands and retail dealers, where pricing was arbitrary and product knowledge was scant. Chaitnya wanted to solve this. 🤔 4. He established a foam-cutting and mattress-assembly unit in the Hosur-Mysore Industrial belt in Bengaluru, using personal savings of Rs 13 lakh. He wanted to democratise better sleep. In 2016, Wakefit was born. 🚀 5. Chaitanya started, but hardly had a workforce. He doubled up to test foam densities during the day and made customer deliveries by night. To build trust, he launched a 100-night free trial policy. It resulted in shipment delays and numerous calls from dissatisfied customers. He took all of them, and magic happened. 🪄 6. By 2018, Wakefit clocked revenue of 80 CR as word of mouth became their biggest weapon. Since they were selling directly to customers, they were 40% cheaper than anyone else. Finally, Wakefit had awakened legacy players like Kurlon and Sleepwell from their slumber. 😴 7. Investors noticed as well. In 2018, Wakefit raised 65 CR from Sequoia Surge. With funds, it commissioned a mattress manufacturing facility in Sonipat (Haryana) and a furniture factory in Hosur (Tamil Nadu). By 2019, it clocked revenues of 197 CR. 💸 8. Wakefit continued to expand into sofas, beds, wardrobes, and study tables, positioning itself as a home solutions brand rather than a sleep company alone. Even Kulron and Sleepwell could not match their pace and price as it zoomed past the 400 CR revenue mark. 💰 9. Wakefit had invested in India's first sleep research lab, climate-tested for foam and orthopaedic claims testing. Its "sleep internship" campaign had gone viral. As it touched 19,000 pincodes and doubled revenue to 820 CR in 2022, it raised 200 CR led by Investcorp. 💵 10. By 2024, Wakefit had served over 2 million customers, with 70% sales still coming from mattresses. As it became the fastest-growing consumer brand, it broke the 1000 CR revenue mark. 📈 11. Today, Wakefit clocks revenue of 1017.33 CR at a profit of 65.85 CR. It has five manufacturing hubs and 98 stores across 35 cities in India. 🇮🇳 ➡️Who would have thought that Chaitanya Ramalingegowda would build a 2300 CR company after failing twice initially? 🙏 For more such inspiring stories, FOLLOW me here! 🔔