Atami Capital leads £40m series-B for Simba Sleep

Saracens chair Nigel Wray also took part in the round alongside Wharton Asset Management and Swiss bank Lombard Odier.

The fresh capital will be used to accelerate Simba's global expansion.

The company is forecasting rapid growth over the next two years, projecting £41m for 2017, £167m for 2018 and £267m for 2019. It said it will achieve profitability in its core markets in early 2018.

Competitor Eve Sleep achieved a £140m market capitalisation through an IPO in May 2017. Eve raised £35m in expansion capital from the placement, having previously been backed by Octopus Ventures, DN Capital and Woodford Investment Management.

Previous funding
In February 2016, JamJar Investments structured a £1m round of seed funding for Simba. Spark Ventures, Adam Balon, Sir John Hegarty, The Garage Soho, Richard Reed and Tom Teichman also participated.

Spark and various business angels returned to invest a further £5m in the company in October 2016.

Simba has also raised other undisclosed seed funding and debt financing rounds since inception, bringing the total raised by the company to £58.5m.

Company
Founded in 2015 and headquartered in London, Simba is an online mattress retailer. It is operational in 14 countries and has sold 100,000 mattresses, according to its website. It claims to have experienced a 247% revenue growth in the last nine months.

People
Simba Sleep – James Cox (CEO).

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