Eight Sleep raises $100 million, preps retail stores

• "My vision is that every American is wearing a wearable within four years," he told Congress.
• Eight Sleep's smart mattress cover isn't technically a wearable — users lie on top of it — but still fits within the category.

Investors include HSG (fka: HongShan Capital/Sequoia Capital China) and insiders Valor Equity Partners, Founders Fund, and Y Combinator.

• Existing backer Khosla Ventures didn't participate.

Look ahead: CEO Matteo Franceschetti tells Axios that the company this month will file two applications with the FDA for medical device classifications — one for sleep apnea and another for menopause.

• Eight Sleep also plans to launch branded retail stores in 2026, and boost its Asia expansion efforts (thus the HSG participation).