Battle of the beds heightens as Startups 100-listed Simba Sleep secures £13.2m
Companies House records shows the by-the-box mattress business secured £11.4m in June and issued an additional £1.8m of shares to settle a liability
Simba Sleep, the mattress start-up ranked as the fifth top new business operating in the UK today, has raised a further £13.2m according to analysis of Companies House records.
Confirmed by founder and CEO James Cox in an interview with Business Insider earlier today, filings by Companies House indicate that Simba raised £11.4m in June and also issued £1.8m in new shares to settle obligations.
Launched in February last year, Simba Sleep claims to be “the most advanced mattress in the world” and is a challenger brand to fellow UK heavyweight eve Sleep and US champion Casper.
SIMBA’s technology – backed by the Sleep to Live Institute – combines a layer of both foam and springs, which it says adapts to the weight and size of a person and shapes itself to ensure they get the right support – even if they’re sharing a bed with someone of a wildly different size.
The news means that the business has taken total funding to over £30m, which includes an earlier £9m round in February of this year, and will support its expansion.
The news also comes hot on the heels of the funding announcement from Manchester start-up Leesa, an online mattress business with a similar proposition, which closed a £17.6m round just last week.
In its Startups 100 2017 entry form, Simba’s Cox revealed that over the next 12 months, the company intends to triple output in order to support global growth across Asia, Europe and the Middle East.
And so the ‘battle of the beds’ continues…