India’s furniture and mattress startup Wakefit has significantly reduced its net loss by 90% to 15.05 crore rupees (US$1.8 million) in the fiscal year 2023-24 (FY24), down from 145.68 crore rupees (US$17.1 million) in FY23.

The reduction was driven by a 21% increase in revenue to 986.35 crore rupees (US$118 million) and a 318% rise in other income to 30.98 crore rupees (US$3.7 million) , including interest and gains from investment.

Wakefit also reported positive EBITDA, totaling 65 crore rupees (US$7.8 million) for the fiscal year.

Fonded in 2016, Wakefit offers a range of home and sleep-related products, including mattresses, sofas, and study tables.