Chennai-based on-demand laundry brand, Wassup, has acquired Mumbai-based Chamak for an undisclosed amount in a full equity deal.
Founded in 2008 by Sushil Mungekar, Village Laundry Services and its flagship brand, Chamak’s idea was to explore building a retail chain of small forms of laundry that assures clean and hygienic washing, drying and steam ironing services, which can be turned around within 48 hours to the customer.
Chamak has been backed by investors like Kensington Capital, Index Advisory, Innosight Ventures, Calvert Investments and HNIs like Rajan Mariwala (Marico Group) and Sandeep Tandon (Angel Investor at Freecharge & Tiny Owl).
Speaking on the development, Balachandar. R, co-founder & CEO at Wassup, said “Chamak started 7 years ago and is backed by leading investors. We are happy to have the Chamak team come board with Wassup to achieve a joint vision to create the largest laundry services brand in Asia”. Durga Das, co-founder & MD at Wassup, added “Their knowledge and experience will only give us the additional fuel required to propel us to our goals. We will be in 100 territories in the next 24 – 36 months and the undisputed market leader in our space.”
As for Wassup, it was founded in 2011 by Balachandar R and Durga Das. It is an on-demand services brand which currently offers services like laundry, dry cleaning, shoes and bag refurbishments. The startup also offers free home pick and delivery service for customers.
The company is operational in Delhi, Chennai and Bangalore and has 30 pickup points called “Aggregating Hubs” where the garments can be dropped off by the customer or delivery boys.
With this acquisition, Wassup will commence its operations in Mumbai and will look to expand to 20 territories in coming 6 months. 30 Hubs will be added during this course with presence increasing to 20 territories from its current 11.
Customers can order the service either through all India Toll free no. 1800 3000 9969 or through the mobile app available for Android and iOS platform or log onto the Wassup website.
Wassup will add personal care, home care, car care, pet care and handyman services to its portfolio through its technology platform in the near future.
Recently, Wassup raised $2 Mn in its pre-series A round of funding from Jabong founders Pravin Sinha and Arun Chandra Mohan.
The on-demand convenience industry globally is estimated at $9 Bn. The laundry market is estimated to be valued at INR 200,000 Cr. annually, out of which 95% is unorganized market.
Few other players operating in the laundry services include MyWash, Pick My Laundry, JetSetClean, Dhobionline, Speedclean, Bueno India and QuickClean.
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