Ankit Garg (The Sleep Company)

Overview

Ankit Garg is a prominent Indian entrepreneur, known primarily for being the co-founder and CEO of Wakefit, a leading sleep solutions company. Founded in 2016 alongside Chaitanya Ramalingegowda, Wakefit has become a well-recognized name in the sleep industry, owing to its innovative and affordable sleep products. These include mattresses, pillows, and other sleep-related accessories. Under Garg's leadership, Wakefit has transformed from a small enterprise into a major player in the home solutions market with a focus on enhancing the quality of sleep for millions in India. Garg's venture champions affordable, high-quality sleep products, positioning Wakefit as a customer-centric brand in the burgeoning Indian startup ecosystem.

Recent Developments

In recent years, Ankit Garg and Wakefit have made significant strides in expanding their market presence and product offerings:

  • 2025: As of the current year, Wakefit achieved revenues exceeding ₹1,000 crore, marking a notable milestone and reflecting a 24% increase in revenue compared to the previous fiscal period. The company returned to EBITDA profitability, highlighting the robustness of its business model and operational efficiencies. Additionally, Wakefit announced plans to penetrate deeper into Tier II and III cities, with intentions to open 130 retail stores by the end of the fiscal year. Source: Business Standard
  • 2024: During this period, the company focused on enhancing its omnichannel retail strategy, combining both online and offline sales channels to maximize reach and customer engagement. Garg spearheaded the launch of tech-enhanced premium sleep solutions, which include advanced features like contactless sleep tracking and temperature control systems.
  • 2023: The emphasis was on evolving Wakefit from merely a mattress manufacturer into a comprehensive home solutions brand. This included expanding product categories to include a variety of home furnishings and decor items. Source: Timeout

Personal Information

AttributeInformation
Full NameAnkit Garg
BornNot publicly disclosed
NationalityIndian
OccupationEntrepreneur, CEO of Wakefit
Known ForCo-founding Wakefit
Net WorthNot publicly disclosed
EducationChemical Engineer, IIT Roorkee

Early Life and Education

Ankit Garg's journey into entrepreneurship was shaped by his background in chemical engineering and early professional experiences in the foam industry. Born in India, Garg pursued his higher education at the esteemed Indian Institute of Technology (IIT) Roorkee, where he completed a degree in Chemical Engineering. This technical foundation proved instrumental in understanding and innovating in the manufacturing processes involved in creating sleep products.

During his formative years, Garg identified significant gaps in the mattress and sleep solution market, particularly in terms of quality and affordability. This insight was further strengthened during his employment with Bayer Material Science and other small-scale businesses, where he delved deep into the intricacies of foam production. These experiences laid the groundwork for his later venture into the entrepreneurial world with Wakefit, aiming to disrupt the traditional mattress sales model by focusing on research-driven, customer-centric solutions.

Career and Notable Achievements

Ankit Garg embarked on his entrepreneurial journey by co-founding Wakefit with Chaitanya Ramalingegowda in 2016. Their mission was simple yet profound: to democratize access to quality sleep through affordable and innovative products.

  • 2016: Wakefit was established, initially focusing on direct-to-consumer mattress sales to mitigate costs associated with middlemen, thereby providing customers with competitive pricing.
  • 2019: Wakefit became a household name in India, with Garg being recognized in Forbes India’s "30 Under 30" list for his impact on the sleep solutions industry.
  • 2020 onwards: The company expanded its product range to include a wide array of home solutions beyond mattresses, such as furniture, pillows, beds, and decor, positioning itself as a comprehensive home solutions provider in India.

Current Work and Impact

Currently, Ankit Garg continues to lead Wakefit as the CEO, focusing on expanding the company's market reach and enhancing product innovation. Wakefit's impact in the industry is seen through its pioneering product offerings that integrate technology and ergonomic design, receiving positive reception across the country. Garg’s leadership has emphasized sustainable growth, operational excellence, and customer satisfaction as core business tenets.

The company is also making strides towards a potential public listing in the coming years and is actively expanding its physical retail footprint to complement its strong online presence.

Conclusion

Ankit Garg's contributions to the sleep solutions industry are marked by his commitment to innovation, quality, and customer satisfaction. Under his leadership, Wakefit has transitioned from a modest startup to a leader in the home solutions sector, with a potential valuation reflecting its successful business trajectory. As he continues to steer Wakefit's growth, Garg's vision of democratizing quality sleep products remains a pivotal influence, promising to leave a lasting legacy in both the Indian and global markets.

References

  1. Business Standard
  2. Timeout