Cartesian backs Simba Sleep

The fresh capital will be used to facilitate the company's expansion in China and Canada.

Simba held merger talks with rival Eve Sleep last summer. Eve Sleep confirmed on 20 September that the talks had ended without a deal, Mergermarket reports.

Simba discounted its valuation from £200m to £20m in February 2019 in an attempt to raise funds, according to the Times. 

Previous funding
In February 2016, JamJar Investments structured a £1m round of seed funding for Simba. Spark Ventures, Adam Balon, 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 2016.

Subsequently, Atami Capital led a £40m series-B funding round for Simba in 2017. Saracens chair Nigel Wray also took part in the round alongside Wharton Asset Management and Swiss bank Lombard Odier.

Company
Founded in 2015 and headquartered in London, Simba is an online mattress retailer operational in 14 countries. The company posted a £49.1m pre-tax loss on revenues of £75.1m in the 15 months to the end of 2018. It employs 123 staff.

People
Simba Sleep – Steve Reid (CEO, co-founder).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• UK / Ireland
• Consumer
• United Kingdom