022 24172311
Sections
Search
DealCurry
Equity
Venture Capital
Private Equity
M&A

Banner
DataBoard Demo
Venture Capital | 12 May 2015

On Demand Mobile Laundry Startup Wassup Secures Funding From Jabong Founders

by Puja Chaurasiya
On Demand Mobile Laundry Startup Wassup Secures Funding From Jabong Founders
Share on Social Media Email Facebook Twitter Linkedin
 
@Puja_C

Chennai based Wassup (Operated by Laundry Project India Pvt Ltd), an on demand mobile laundry convenience brand has secured $2 Mn funding led by Jabong’s Co-founders Arun Chandramohan and Praveen Sinha

With this Pre Series A round of funding, Wassup will continue to offer on-demand expediency services as well as expand focus on marketing and customer acquisition activities in Bangalore, Delhi and Chennai and also add 2 more cities - Pune & Cochin to their market presence.

As per release, the on-demand convenience industryglobally is estimated at $9 Bn. The laundry market is estimated to be valued at R200,000 Cr annually out of which 95% is unorganized market.

The company is targeting to serve the daily laundry requirements of middle class Indian consumers which are currently being addressed by a maid servant or by self-wash. The potential to move unorganized offline business to organized online convenience is huge.

Laundry Project was founded in 2011 by Durga Das and Balachandar R. with the aim of catering to the affordable laundry segment. It provides affordable laundry solutions, under the brand Wassup which offers services like laundry, dry cleaning, shoes and bag refurbishments in 3 cities currently present.

The company has 30 pickup points called "Aggregating Hubs" where the garments can also be dropped off by the customer. Further, 30 Hubs will be added during the course of next 6 months. The brand vision is to be in 100 cities with a customer base of 1 Mn in the next 3 years.

Laundry Project is the first laundry company in India to launch an Android-based Wassup app to provide on-demand laundry service, which is a rising trend in the US. It caters to renowned institutional clients like Taj, Oberoi, and Marriott amongst others and leading international airlines.

Royal Enfield Buys Design And Engineering Firm Harris Performance

Royal Enfield Buys Design And Engineering Firm Harris Performance

Two wheeler division of Eicher Motors, Royal Enfield has acquired UK based design and engineering company Harris Performance Products Ltd for an undisclosed amount. Through the deal, it will acquire all assets, employees, trade names, technical know-how and intellectual property of Harris Performance.

Read More...

UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Divests its Shares in Ascent Capital

UTI Ventures Funds Management Company Private Limited, the private equity investment subsidiary of UTI Asset Management Co Pvt Ltd, has sold its stake in Ascent Capital Pvt Ltd to the management of the firm, which is headed by Raja Kumar.

Read More...
Subscribe
Enter your Email address
to receive all the news