India, July 31 -- D2C mattress startup The Sleep Company is set to raise INR 105 Cr ($12.3 Mn) in its Series D funding round led by Saffron Investments.

The round will also see participation from Carillon Investments and Infinity Partners.

As per The Sleep Company's MCA filings, the startup passed a board resolution approving the issuance of 19,093 Series D Compulsorily Convertible Preference Shares at an issue price of INR 55,130 each to raise the aforementioned amount.

Of the total INR 105 Cr, Saffron Investments will pump INR 87.7 Cr, while Carillon Investments B.V. and Infinity Partners will infuse INR 9.7 Cr and INR 7.7 Cr, respectively.

The capital will be deployed for growth, expansion and general corporate purposes.

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