Chaitanya Ramalingegowda and Ankit Garg co-founded Wakefit in 2016. It started as a memory foam mattress firm and transitioned into an online sleep company, which included mattresses, bed frames, pillows, and mattress protectors. In December 2018, it received $9 million for research and development, from Sequoia Capital.
In late 2019, Wakefit introduced a sleep internship initiative where volunteers had to sleep 9 hours daily on their mattress for 100 days to bring focus on sleep health and to help analyze sleep patterns. The initiative received domestic and international recognition.
Kumar Gaurav is the chief technology officer and Parasar Sarma is the vice-president.