UK sleep-tech firm Simba, which produces the multi-award winning Simba Hybrid mattress range, has today announced it has agreed to €21.5 million in investment from Cartesian Capital Group, to fund its global sleep ambitions.
Launched in February 2016, the sleep-tech brand landed €45 million Series B investment in 2017 (and we included them in our list of European startups to help keep you comfy at home this winter!) Simba is now operational in nine countries across Europe, Asia, and North America. Today, half of the UK’s retail distribution network stocks the brand, whilst in Canada, Simba has partnered with Canada’s largest specialist sleep store, Sleep Country.
This new funding will be used to help Simba grow profitability in core markets, accelerate and deepen Simba’s existing business in Canada, and fuel future expansion in China.
Steve Reid, CEO at Simba said, “In 2019, we cemented our position as the world’s most five-star reviewed mattress brand with over 80,000 five-star online reviews. Our focus remains on not just becoming the world’s number one sleep brand, but changing the way the world thinks and feels about sleep, for the better.”
Peter Yu, Managing Partner at Cartesian Capital Group commented, “With tenacity, nimbleness, and discipline Simba’s leadership have successfully steered the company through challenging market environments. Simba’s innovations and proprietary technology create a uniquely attractive value proposition and a truly global appeal.”