Both the companies will continue to run as separate entities.
03 April, 2017, Bengaluru. Bengaluru-based on-demand laundry service provider PickMyLaundry has acquired Gurgaon-based OneClickWash, a subscription-based laundry firm, in an all cash deal. Both the companies will continue to run as separate entities.
Founded in 2015, OneClickWash is an app-based, end-to-end laundry service (washing, drying and ironing) that is tapping in to the massive nascent market of Indian urban household laundry, currently pegged at USD $2 billion in the top 10 cities, alone. Since founding, OneClickWash has processed over 80,000 kilos of laundry efficiently, recording a high monthly retention rate of 80 per cent after 1 month and 50 per cent after 3 months.
Post-acquisition, PickMyLaundry which is currently offering an on-demand service, will enable a hybrid model, combining on-demand and subscription-based services. Further, PickMyLaundry will also leverage OneClickWash’s laundry service, technology infrastructure and management team.
Unitus Seed Fund invested in OneClickWash in March 2016.
Founded in 2015, OneClickWash is a company that provides tech-enabled, end-to-end, affordable and reliable laundry services through its cloud laundromat model. OneClickWash is currently live in Gurgaon. The founders are alumni of IIT Bombay, BITS Pilani, IIM Ahmedabad and ISB.
More about OneClickWash >
About Unitus Seed Fund
Unitus Seed Fund is the leading impact venture fund investing in businesses innovating for the masses in India. Unitus invests in sectors including healthcare, education and financial technology. Unitus Seed Fund is backed by leading individual, family office, and foundation investors in the USA and India. Unitus Seed Fund is part of the Unitus Group, a premier financial services group operating in India and other emerging markets since 2000. Unitus Seed Fund is based in Bangalore and is a member of the Capria Network.