OneClickWash is “spinning” a new growth story for affordable, end-to-end laundry solutions
21 March, 2016. Bangalore, India: Unitus Seed Fund, India’s most active seed fund supporting startups innovating for the masses, announced its investment in OneClickWash, a firm that aims to simplify the way India does laundry. OneClickWash is currently operating in Gurgaon.
|Unitus Seed Fund invests in OneClickWash|
The Market Opportunity
Spending your weekends washing clothes, hanging them out to dry and then waiting for your dhobi-walla to come and collect the laundry – all in the hope of ensuring you have clean, fresh clothes for the week, is an urban nightmare that is being faced by millions of households across India today.
According to estimates from Eurormonitor and OneClickWash, the size of the household laundry market in the top ten cities in India is between INR 13,000 crore – INR 26,000 crore (USD 2-4 billion). Organized laundry is a recession proof growth opportunity. The different steps of the process – washing, drying and ironing are undertaken by multiple in-house/outsourced processes where the delivery quality isn’t consistent.
This is the problem being addressed by OneClickWash, which uses its tech-enabled, end-to-end laundry services to address this uniquely carved out urban Indian challenge.
“We are focused on making our services affordable to every middle-class household in India. Owning the entire supply chain is critical for this. This helps us provide the best possible customer experience and not just act as aggregators.” said Vivek Iyer, CEO OneClickWash. “Just as Faasos has scaled across the country with localized “cloud” kitchens, we plan to scale up through the “cloud” laundromat model” he added.
End-to-End Laundry Model
OneClickWash brings affordable and reliable laundry to the customer’s doorstop while ensuring best-in-class customer experience. A household of four can outsource their entire laundry – washing, drying and ironing- for one month to OneClickWash at just INR 2,500 (USD 37) while an individual needs to pay just INR 800 (USD 16). Through their integrated model, where OneClickWash owns the entire supply chain, the customer enjoys the comfort of on-time and reliable laundry services delivered to their doorsteps.
In scaling up laundry solutions, the firm also has the opportunity to provide employment and sustained channels of income to thousands of unorganized workers seeking employment in India.
OneClickWash has been able to demonstrate 7x revenue growth over the last 7 months. 60% of customers who try the service become recurring users, a testimony to the quality of customer experience and reliability of service the firm is able to provide.
“Being a bachelor software engineer, I barely get anytime to do my laundry. And having a fresh set of clothes for my important business meetings is very crucial” said Gaurav Dixit, a OneClickWash customer since Aug’15. “OneClickWash provides me the comfort of having fresh pile of laundry delivered at my doorstep with a simple click of an app button” he added.
“We believe that organized laundry is an untapped market need in India and are really happy to partner in the growth story of OneClickWash as it rapidly expands its customer base and revolutionizes the way people do their laundry.” said Dave Richards, Co-Founder and Managing Partner Unitus Seed Fund.
Vivek Iyer, CEO, is an alumni of IIT Bombay and IIM Ahmedabad. Prior to OneClickWash, he had roles at DBS and Standard Chartered.
Saurav Killa, COO, is an alumni of BITS Pilani and Indian School of Business. He brings to OneClickWash a mix of technology and operational experience with prior experience at Samsung.
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.
About Unitus Seed Fund
Unitus Seed Fund is the leading venture seed fund supporting startups innovating for the masses in India. Unitus invests in healthcare, education, mobile & consumer, retail & e-commerce, financial services and agriculture sectors. Founded in 2012, 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 Seattle, and is a member of the Capria Network.