Octopus, DN Capital in £6.9m round for Eve Sleep

The investment vehicle of broadcaster Channel 4, Commercial Growth Fund, took part in the deal and will also provide the business with a television advertising platform.

Eve Sleep will also look to expand internationally following the deal. Since launching in 2015, the company has expanded into the US, Germany and France.

The mattress manufacturing sector has previously attracted support from private equity and venture capital backers. In April this year, NorthEdge Capital acquired a majority stake in specialist healthcare-related mattress producer Direct Healthcare Services. The following month, Perceva acquired French manufacturer Groupe Cauval in a turnaround deal.

Previous funding
The latest investment brings the total amount invested in Eve to £10m.

Octopus and DN took part in a £600,000 seed funding round for the business in May 2015. The investors then led a £2.5m series-A round for the company in November of the same year.

Company
Founded in 2015 and headquartered in London, Eve is an e-commerce business that produces and sells mattresses comprised of memory foam layers and latex. The company anticipates a turnover of around £17m in 2016.

People
Octopus Ventures – Luke Hakes (investment director).
DN Capital – Lawrence Barclay (principal).
Eve Sleep – Jas Bagniewski, Kuba Wieczorek, Felix Lobkowicz, James Fryer (co-founders).

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• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom
• Venture
• DN Capital
• Octopus Ventures