<ul><li>Wakefit, a Bengaluru-based startup, is converting to a public limited company in preparation for its 2025 IPO with a target valuation of ₹1,500 to ₹2,000 crore.</li><li>The company has appointed Axis Capital, IIFL Capital Services, and Nomura as bankers for its IPO. Wakefit recently achieved over ₹1,000 crore in revenue and aims to see net profit by the end of FY25.</li><li>In its latest funding round in January 2023, Wakefit raised ₹320 crore in a Series D round led by Investcorp, with participation from existing investors Sequoia Capital India, Verlinvest, and SI.</li><li>The company plans to expand its product range, omni-channel reach, and invest in brand-building initiatives. Wakefit's revenue crossed ₹1,000 crore, showing a 24% increase from FY23, and expects double-digit growth in FY25.</li></ul>

Wakefit converts to public limited company in its run up to 2025 IPO

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