These included Ola cofounder Ankit Bhati, Boston Consulting Group managing partner Deepak Goyal, Trilegal cofounder Karan Singh and Nutanix India managing director Sankalp Saxena, LaundryMate said in a news release.
LaundryMate said it has built India’s largest laundry facility in Bengaluru, which has a capacity to process 65,000 garments per day, with machines from Belgium, Italy, Turkey, the US and Dubai, and a water treatment and recycling solution imported from the Netherlands.
“Very soon we will be raising $10-15 million in our Series A round to fund our national expansion,” Choudhary said.
Launched in October 2022 in Bengaluru, LaundryMate was founded by Choudhari, Raghavendra Joshi, Tripat Preet Singh, Uday Vijayan, Asad Zaidi and Pushpendra Yadav. It services both B2C and B2B segments.
Choudhari had quit Bigbasket in 2021, two days after Tata Digital announced the purchase of a majority stake in the e-grocer. He had previously worked at Mitsubishi Corp and Infosys.
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A report released in 2021 by consulting firm Redseer had said that the country’s overall addressable laundry market was expected to grow to $15 billion by 2025.“We have had a strong belief in the untapped potential of the ‘industrialisation of laundry’ for everyday consumers,” said Sarita Raichura of the Blume Founders Fund.
Blume Founders Fund, a Blume Ventures initiative, invests in pre-seed, seed and pre-Series-A startups.
In December, the venture capital firm had made the final close of its fourth India-dedicated fund with a corpus of $250 million, its biggest so far and more than double the previous fund.
