Simba closes £5m funding round as “battle of the beds” intensifies
The high-tech mattress retailer secured backing from the founders of Innocent Drinks and will use the investment to expand internationally
Simba, a high-tech mattress retailer, has raised £5m in its latest funding round with investment coming from the likes of Innocent Drinks and Tom Teichman of made.com,lastminute.com and notonthehighstreet.com.
Founded in 2015 by James Cox and Steve Reid, alongside the McClements Family, Simba offers consumers a one-size-fits-all “bed in a box” where a mattress is rolled up, boxed and delivered the next day.
In what’s been described as the “battle of the beds”, Simba’s main rivals in the £1bn mattress market include eve sleep, recently announced as a Startups Award nominee, and US brand Casper.
The finance will allow the start-up to further expand internationally as well as strengthen and maintain its UK market share.
James Cox, CEO and co-founder of Simba Sleep, 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.”