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GHV Picks PickMyLaundry For Its Accelerator Program; Invests $100K

GHV Picks PickMyLaundry For Its Accelerator Program; Invests $100K

Gurgaon-based GreenHouse Ventures Accelerator (GHV Accelerator) has selected on-demand washing and dry cleaning startup, PickMyLaundry, as the third startup for its accelerator programme. As part of the Acceleration Program, PickMyLaundry has received a seed funding of $100K in exchange of 20% equity.

Prior to this, GHV had onboarded LazyLad and MyTaxiIndia, both of which have managed to secure pre-series A funding from Global Investors.

Started in May 2015 by IIT alumni Gaurav Agrawal, Ankur Jain and Samar Sisodia, PickMyLaundry is an online laundry booking startup that offers affordable solution for premium washing, dry-cleaning services, and wardrobe management.

Owing to the high demands for such services, with single professionals and working couples, PickMyLaundry perceives a huge market opportunity.

According to KPMG study, the demand for organized laundry industry in India for 2007-2012 period was estimated to be $811 Mn (INR 5200 Cr), however, the demand coming from people seeking such services was estimated to be additional INR 1300-2600 Cr.

PickMyLaundry presently has its services in Delhi & Gurgaon with over 2500 customers and 1000 wardrobes already being managed. The company is ramping up fast and adding more vendors so they can handle their target of 8000 wardrobes per month by December this year.

The company not only caters to B2C customers, but also engages with B2B clients including expats and employees of established startups like Snapdeal, Tripoto, Moovo, Oyo Rooms etc. The startup assures doorstep pickup and 48 hours delivery time.

Vikram Upadhyaya, Chief Mentor at GHV said that India deserves a better laundry experience which is not just at par with international standards but also a benchmark for others internationally. Being bootstrapped, the company has still managed to achieve mind-boggling numbers.

PickMyLaundry has also integrated process for laundromats that helps optimize resources. This ensures low processing cost which in turn benefits the customer. Going forward, the company plans to launch revolutionary Express Services, whereby customers can opt for ‘In-a-day Delivery’ or ‘Overnight Delivery’.

Looking at the fast smartphone penetration amongst its target audience, the startup plans to launch their mobile app by the end of this month.

Gaurav Agrawal, co-founder at PickMyLaundry said, “GHV is not just about smart funding, but more important is their attention to details. They give insights and help execute better. We now have a team who is equally determined to help us grow. I think it’s vital for startups to have eagle vision of people like Vikram.”

Pickmylaundry was also among the 13 startups that made it to Inc42’s event StartupPulse, last month.

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