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New entrants disrupt India’s ₹14,000 crore sleep market

16 May 2024

68% of Indians get a 6-8 hours sleep. Several startups like The Sleep Company, Duroflex, Wakefit, and Sheela Foam are building sleep tech-enabled mattresses and apps to offer assistance for quality rest.

With growing awareness about quality sleep, Indians are turning to specialized mattresses, supplements, and apps for sleep assistance. The Sleep Company’s mattress powered by the SmartGRID technology is developed by the Indian, Defence Research & Development Organisation (DRDO). Other mattress makers like Wakefit, Sheela Foam (SleepWell), and Duroflex experienced revenue jump between 18-23% in the last two years selling mattress that cost ₹20,000-70,000.

Sleep assistance apps like Headspace, and Calm are experiencing heavy downloads. Neend, an Indian app launched in 2021, offers bed time stories and easy-to-follow instructions for quality sleep and access to sleep experts. A Bengaluru-based startup, Ultrahuman, introduced Ultrahuman Ring Air, a ₹29,000 sleep-tracking wearable ring.

However, the unorganized sector is dominating the sleep industry as most Indians still prefer traditional firm mattresses over advanced sleeping equipment. Still, Mordor Intelligence predicts Asian-Pacific sleep industry to grow at 8% annually by 2028 driven mostly by customized mattresses options.

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