Gurugram-based on-demand washing and dry cleaning startup, PickMyLaundry has raised an undisclosed amount in funding from FMCG executive Kedar Lele and existing investor, GreenHouse Ventures Accelerator (GHV Accelerator).
The raised funds will be divested to scale its expansion operations in NCR and other Indian cities as well.
Founded in May 2015 by IIT alumni Gaurav Agrawal, Ankur Jain, and Samar Sisodia, PickMyLaundry is an online laundry booking startup that offers solutions for premium washing, dry-cleaning services, and wardrobe management.
Ankur Jain, co-founder and COO, PickMyLaundry said, “We at PML have a prime focus on customer retention which has always helped us in growing organically. We do not believe in the model of discounting for growth but the superior customer experience which bounds customers to come again and use our service.”
PickMyLaundry presently has its services in Delhi, Gurugram, and Noida, with over 15000 app downloads. The company caters to both B2C and B2B clients including expats and employees of established startups like Snapdeal, Tripoto, Moovo, Oyo Rooms etc. The startup assures doorstep pickup and a 48 hour delivery time.
Commenting on the investment, Anurag Kapoor, Executive Director, GHV Accelerator said, “Indian Laundry on-demand space is still unexplored and yet to have the winners in this space, the right team and the best unit economics will give the winners to this vertical. We as GHV saw perseverance in the PickMyLaundry team and the passion to excel the two parameters to be a winner eventually in the on-demand laundry space.”
As per an official statement, PickMyLaundry also plans to set up offline stores in the near future to reduce last-mile logistics expenses. PickMyLaundry has also integrated a process for laundromats that helps optimise resources. This ensures low processing cost which in turn benefits the customer.
In August 2015, GHV Accelerator selected PickMyLaundry as the third startup for its accelerator programme. As part of the Acceleration Programme, PickMyLaundry received a Seed funding of $100K in exchange of 20% equity.
The Indian Laundry Industry is estimated to be at INR 2,20,000 Cr, of which the unorganised market (dhobis, maid servants, and mom-and-pop stores) are valued at INR 5,000 Cr.
In March this year, app-based laundry service provider OneClickWash, secured an undisclosed amount from Unitus Seed Fund. In July 2016, Mumbai-based home services platform Doormint shutdown its operations citing difficulties in managing unit economics as the reason for the same.