The Bengaluru-based home and sleep solutions brand Wakefit Innovations Ltd. has taken a big leap towards becoming a publicly listed company , receiving the Securities and Exchange Board of India (SEBI) approval to launch its initial public offering (IPO).
This milestone marks a defining chapter in Wakefit’s journey — from a small online mattress brand to one of India’s most trusted D2C home lifestyle names.
According to SEBI filings, Wakefit’s IPO will comprise:
Promoters Ankit Garg and Chaitanya Ramalingegowda are expected to dilute part of their holdings, alongside early investors including Peak XV Partners (formerly Sequoia Capital India), Verlinvest , Investcorp , Redwood Trust , SAI Global , and Paramark Ventures .
The proceeds from the fresh issue are likely to be used for expanding manufacturing facilities, strengthening distribution, brand marketing, and working capital needs.
Founded in 2016 by Ankit Garg and Chaitanya Ramalingegowda , Wakefit began as a simple mattress startup with a mission to revolutionize how India sleeps.
They realized that most Indians were compromising on sleep quality — choosing cheap, uncomfortable options due to lack of awareness and transparency.
So, Wakefit disrupted the traditional furniture industry by:
Over time, the company expanded its portfolio to include:
Wakefit’s omnichannel strategy — combining online sales with experience stores — has helped it build trust across Tier 1 and Tier 2 cities , turning it into one of India’s most recognized consumer durable brands .
Wakefit’s IPO approval is not just a corporate milestone — it’s a signal for India’s entire Direct-to-Consumer (D2C) ecosystem.
The listing will make Wakefit one of the first major D2C furniture and sleep brands to hit the Indian stock market, following in the footsteps of consumer-tech players like Mamaearth and Boat exploring similar paths.
It showcases the maturity of the Indian startup ecosystem , where brands born online are now scaling profitably, diversifying, and entering mainstream capital markets.
With SEBI’s approval in place, Wakefit is expected to move toward filing its red herring prospectus (RHP) and begin its roadshow and book-building process soon.
The IPO will likely help the company:
Wakefit’s journey reflects the power of vision, persistence, and problem-solving .
From shipping mattresses out of a small warehouse in Bengaluru to clocking ₹800+ crore in annual revenue , Ankit Garg and Chaitanya Ramalingegowda have shown how a customer-first mindset and product innovation can build a household brand in India.
As Wakefit readies for its IPO, one thing is clear — the brand that helped India sleep better is now waking up to a billion-dollar opportunity . ??
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