Sleepace Secures RMB 50 Million in Series B+ Funding to Expand Sleep Health Ecosystem

VCBeat has learned that Sleepace, a leading brand in smart sleep health, has announced the completion of its B+ round of financing, totaling RMB 50 million. This marks the largest financing deal to date in China’s healthy sleep sector. The round was led by Xingwang Investment, with Himalaya FM as a participating investor.In 2014, Sleepace secured Series A funding from Gobi Partners. In 2015, it raised over RMB 40 million in Series B funding from Luolai Lifestyle and JD.com Group.

Following this round of financing, Sleepace will continue to increase its investment in R&D and marketing. Centered on its core philosophy of creating high-quality sleep, the company will strengthen its core competencies in sleep monitoring and improvement, refine its layout of the sleep hardware ecosystem, and accelerate the development of content and services within its app. In the emerging era of new consumer economics and artificial intelligence, Sleepace aims to create more scientific and user-centric technological sleep scenarios, enabling consumers to achieve better sleep quality.

The sleep health market is a blue ocean with immense growth potential. According to a survey by the World Health Organization, 27% of people worldwide suffer from sleep problems. The figure stands at 38% in China, 30% in France, and as high as 41% in the United States. Estimates from relevant authorities indicate that China’s healthy sleep market has approached RMB 50 billion, while the global healthy sleep market is conservatively estimated to exceed USD 60 billion.

Since its establishment in 2011, Sleepace has been dedicated to the research, development, and sales of sleep monitoring and improvement products. The company has accumulated profound expertise in non-wearable sleep monitoring technology and possesses deep insights into consumer needs and various sleep scenarios. It has successively launched a range of retail-oriented sleep monitoring and improvement products, including the Baby Sleep Safety Monitor, the Sleep Health Monitor for Seniors, the RestOn Sleep Health Monitor, the Nox Smart Sleep Aid Lamp, the Nox Music Bedside Lamp, and the Sleepace Memory Pillow. Additionally, Sleepace provides industry-specific solutions for the mattress and home textile, hotel, and elderly care sectors, featuring smart pillows and smart mattresses.

Currently, Sleepace’s products support 10 languages and are sold in more than 30 countries and regions worldwide. In China, the brand is present in over 600 retail stores and listed on major e-commerce platforms such as JD.com, Tmall, and Suning.com, becoming the top-selling brand in professional sleep monitoring and improvement products. It has established strategic partnerships with well-known brands and platforms including JD.com, Luolai Home Textiles, Sinomax, King Koil, Wan’an, Lenovo, Midea, TCL, and Yitiao, maintaining its leading position in domestic market share within its niche segment.

Overseas, Sleepace products are sold through more than 1,500 retail outlets, including Brookstone and Staples in the United States; MediaMarkt and Saturn in Germany; Lick in France; and Far Eastern Department Store and Sogo in Taiwan. Furthermore, Sleepace has established deep strategic partnerships in product development and marketing with prominent industry clients in major countries such as the United States, Canada, Germany, France, Russia, Australia, South Korea, Japan, India, and Thailand. As one of the most successful Chinese smart hardware startups in global expansion, Sleepace has become a leading brand in terms of market share for industry applications of its product category in the international market.

In 2015, Samsung announced its investment in EarlySense, an Israeli sleep monitoring company; in 2016, Nokia announced the acquisition of Withings, a French health device manufacturer; and two weeks ago, Apple announced its entry into the sleep monitoring sector by acquiring Beddit, a Finnish sleep monitoring company. What does the entry of these tech giants signify?

Huang Jinfeng, CEO of Sleepace, stated, “Giants only enter industries with strong potential. While this intensifies market competition, it also accelerates consumer education in the sleep health sector. Apple’s entry serves as a significant market bellwether, indicating that bedroom behavior and sleep physiological data, as critical entry points, will play a pivotal role in the future development of smart home, AI applications, and mobile health industries. We welcome the participation of Apple and Samsung. On one hand, it drives us to accelerate our product and technology roadmap; on the other, it allows us to leverage the market education benefits brought by these tech giants to speed up the commercialization of our products and services. With deep algorithmic and technological expertise in non-wearable sleep monitoring, along with strict intellectual property protection, our products and services have reached over 30 countries and more than 500 clients, including many Fortune 500 companies. This competitive advantage is not easily surpassed by rivals in the short term.”

Huang Jinfeng stated that following this round of financing, Sleepace will continue to strengthen its core competitiveness in sleep monitoring and improvement technologies; provide a convenient open platform for third-party enterprises in smart home, AI applications, and mobile health sectors, thereby enhancing the layout of the smart bedroom hardware ecosystem; accelerate the development of app content and services, offering effective and engaging education, stress relief, and sleep-aid content, as well as professional sleep health training courses tailored to different demographic segments, including young women, children, middle-aged adults, and the elderly; and increase investment in international markets to support more high-quality local traditional brands in their intelligent transformation, consolidating its leading position in niche segments globally.

In 2015, Sleepace introduced the concept of “Sleep+,” proposing that integrating sleep technology with healthcare, home textiles, elderly care, hotel services, and financial insurance would give rise to a wide array of innovative business models. Sleepace welcomes more partners, particularly those in smart home, AI-driven new applications, and mobile health, to join the “Sleep+” ecosystem. Together, we aim to create more effective application scenarios and closed-loop solutions for sleep technology, achieving win-win outcomes for both consumers and enterprises.

Huang Jinfeng, CEO of Sleepace

Xingwang Investment has dedicated investment teams conducting long-term research and tracking in the fields of TMT, big health, education, culture, and consumer sectors. As a lead investor, Xingwang Investment has invested in projects such as Hujiang, Himalaya FM, iKang Guobin, Meiyou, Sunlands Technology Group, Kenxun Media, Original Force Animation, Newpai Media, and Qinxue Education.

Its investment style is quite distinctive: it only invests in industry leaders. Xiong Mingwang, founding partner of Xingwang Investment, stated, “The Sleepace team possesses a grand vision, highly innovative intellect, and the passion to strive boldly, and has already become an ‘invisible’ champion in the niche sector of sleep technology. We are particularly optimistic about the development prospects of the sleep technology industry. We believe that healthy sleep will garner greater attention from mainstream consumers in the future, thereby capturing a larger market share globally.”

As a co-investor in this round of financing, Yu Jianjun, Co-CEO of Himalaya FM, stated, “We are particularly optimistic about the growth prospects of the healthy sleep market. Himalaya FM has been committed to integrating and servicing audio content and the broader industry. The ‘content + smart hardware’ model is gaining increasing market traction. In the future, more of Himalaya FM’s extensive audio content library will be integrated into Sleepace’s products, helping more people address sleep issues through this content-and-hardware approach.”

As an institutional and strategic investor in Sleepace prior to this financing round, Mr. Tian Lin, Vice President of Investment and Financing at Luolai Lifestyle, expressed optimism about the development potential of the sector in which Sleepace operates. He noted that sleep is not only a fundamental basis and key monitoring indicator of human health but also a primary entry point for the Internet of Things (IoT). Since individuals cannot actively control devices while asleep, there is a paramount need for automated control. Leveraging its technological advantages in health monitoring, Sleepace is poised to become a critical data acquisition port for the IoT, analyzing user physical sensations and sleep environments to automatically control various bedroom devices, thereby creating an optimal sleep experience. Mr. Tian welcomed the attention and entry of tech giants like Apple into this field and congratulated Sleepace on the successful completion of its new round of financing. Committed to building a healthy, comfortable, and beautiful home life, Luolai will continue to leverage its resources to collaborate with technology-driven innovators in advancing the IoT landscape.

It is reported that following the successful fundraising, Sleepace will offer its most significant consumer rewards in June. Sleepace will join forces with online platforms such as JD.com, Tmall, Yitiao, and Coolbuy, as well as over 600 offline stores including Meicheng, Lezhi, Gome, and Suning, to launch promotional campaigns.

About Xingwang Investment

Shenzhen Qianhai Xingwang Investment Management Co., Ltd. (hereinafter referred to as “Xingwang Investment”) is a professional institution specializing in equity investment, registered and filed with the Asset Management Association of China (AMAC). Headquartered in Shenzhen, Xingwang Investment has established branches in Shanghai and Beijing, where it has stationed professional personnel. The company currently manages eight RMB-denominated funds, with assets under management nearing RMB 3 billion.

About Himalaya FM

Ximalaya FM is China’s leading audio platform, with over 350 million mobile users and 20 million users across in-car, wearable, and smart speaker devices. Since its launch, it has consistently ranked No. 1 on the App Store’s Books chart, sustaining strong market performance. With a 73% share of the mobile audio market, Ximalaya FM has established itself as China’s premier audio platform.

As China’s largest audio-sharing platform, Ximalaya FM pioneered the PUGC (Professional User-Generated Content) ecosystem model, which not only leads innovation in the audio industry but also attracts a large number of self-media creators to engage in micro-entrepreneurship in audio. It has gathered 5 million audio hosts, including 200,000 verified anchors such as Ma Dong, Wu Xiaobo, Gong Linna, Liang Dong, and Le Jia, who have collectively created 60 million pieces of audio content covering 328 categories, including finance, music, news, business, novels, and automobiles.