Home Business NewsBusiness This British mattress start-up has just raised £5m

This British mattress start-up has just raised £5m

13th Oct 16 10:53 am

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Simba, the London-based mattress retailer, has closed a £5m investment round from Spark Ventures and The Garage Soho, alongside a group of angel investors Tom Teichman, Nigel Wray, Richard Reed, the Jatania family, Adam Balon and Jon Wright.

The proudly British business was founded in August 2015 by serial startup investor James Cox, Steve Reid, founder of Tribesports.com and mattress veterans McClements family.

The new investment will be used to grow sales internationally having successfully tested its approach in the UK, France, Germany and the Netherlands. The money will also be used to strengthen the company’s market leadership in the UK.

The total investment in the company now stands at £8.5m. Simba initially secured backing from a series of heavyweight UK investors including Richard Reed co-founder of Innocent Drinks, who engineered Innocent from a small stand at a music festival to an internationally renowned and respected giant.

The brand has also secured an exclusive deal with John Lewis. Simba mattresses are now on sale and display in all of the 45 stores.

CEO and co-founder of Simba Sleep, James Cox said: “This year has been incredible. Whilst Casper may have rushed to launch in the US with its memory foam based bed in a box offering – we knew from our research that we could create a premium offering which offers more comfort and support for over 95% of the British public.

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