Wakefit is one of the few growth-stage startups that have managed to cross Rs 400 crore revenue mark within 5 years of its inception. The sleep solution cum furniture company has registered 2.07X growth in its operating revenue to Rs 408.59 crore in the last fiscal year from Rs 197.44 crore in FY20, Wakefit’s annual financial statements show.
Wakefit has made 94.74% of its income through the sale of manufactured mattresses, pillows and accessories which shot up 2.07X to Rs 387.1 crore in FY21 from Rs 187.16 crore in the preceding fiscal year (FY20).
The sale of manufactured mattresses, pillows, and accessories accounted for 94.74 percent of Wakefit’s revenue, which increased 2.07X to Rs 387.1 crore in FY21 from Rs 187.16 crore the previous fiscal year (FY20).
Revenue from the sale of services stood at Rs 4.51 crore during the last financial year which was nil in FY20. Sale of scrap also added a small portion to the company’s coffers in the fiscal year ending March 2021.
Wakefit’s revenue increased by a significant amount in FY21. With sound unit economics, the company has crossed Rs 400 crore in operating income, which is quite impressive when compared to other startups of its age. Wakefit will become a unicorn in the second half of the year if it maintains its current momentum, considering its last fundraise in November 2021 was done at a valuation of Rs 2800 crore.
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