Linen management startup Quick Smart Wash (QSW) has raised $5.15 Mn funding from Japan-based Elan Corporation.
In a statement, QSW said that the latest funding will help the startup to expand its capacity to almost 55 tonnes (1,65,000) per day from 35 tonnes (1,00,000 clothes) per day.
Founded in 2013 by Rakesh Sharma, QSW offers self-service laundry and linen management to healthcare and hospitality industries. The startup claims it leverages high-end technology and services which help prevent healthcare-associated infections, a major health concern across hospitals.
Commenting on the fund raise, founder Sharma said the partnership with Elan will further augment QSW’s strength in the areas of research and development, especially in catching future trends and delivering high and affordable quality services.
QSW is currently present across Jaipur, Manipal, Udupi, Delhi NCR, Hyderabad, Bengaluru, Jalandhar, and Amritsar. In the current fiscal year, the startup is planning to set up units in Kochi, Kannur, Chennai, and Ahmedabad, reaching 9 states across the country.
QSW plans to further expand its services across India and enter at least 15 states in the coming years. It plans to capture a 10% share of the hospital linen management sector and increase its linen management capabilities to 200 tons a day.
A study by Statista found that the Indian laundry care market value stood $5.46 Bn in 2023 which is expected to grow at 4.18% CAGR by 2028. As a result, the sector has been receiving a lot of interest from entrepreneurs and investors.
Laundry startup LaundryMate, cofounded by former BigBasket cofounder Abhinay Choudhari, raised $6.25 Mn in Pre-Series A funding from Blume Founders Fund and others earlier this year.
Other than LaundryMate, QSW competes with Laundrywala, UClean and LaundryAnna.
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