UK-based advanced bedding provider Eve Sleep has closed an $18.3m series B round that included media company Channel 4, which invested through its ad-for-equity Commercial Growth Fund.
The round was led by Woodford Investment Management, the investment vehicle for fund manager Neil Woodford, and also featured Octopus Ventures, DN Capital and Paul Pindar, formerly CEO of outsourcing services provider Capita, who has been appointed company chairman.
Eve Sleep produces memory foam mattresses and pillows, and 100% cotton sheets, selling them online. It plans to launch a duvet product at the end of this month.
The company, which was already operational in the UK, France and Germany, expanded to the US earlier this year, and intends to move into Switzerland, Italy, Poland, Austria and the Netherlands with the proceeds from the series B round.
The company closed $790,000 in seed funding in May 2015 from DN Capital, Octopus, FJ Labs and various angel investors, before DN Capital and Octopus supplied another $3.3m in November. The series B round’s $9m first close was achieved in July 2016.
– Image courtesy of Eve Sleep