Home Insight FUNDING NEWS- Newly Funded Startups 2024 LaundryMate Secures Rs 50 cr from Blume Founders Fund & others

[Funding alert] LaundryMate Secures Rs 50 cr from Blume Founders Fund & others

[Funding alert] LaundryMate Secures Rs 50 cr from Blume Founders Fund & others
[Funding alert] LaundryMate Secures Rs 50 cr from Blume Founders Fund & others
Ankit Bhati, the co-founder of Ola, and other high network individuals (HNIs) and CXOs participated in the pre-series A round of funding for LaundryMate, an online laundry services firm, which raised Rs 50 crore ($6.2 million) from Blume Founders Fund.

Ankit Bhati, the co-founder of Ola, and other high network individuals (HNIs) and CXOs participated in the pre-series A round of funding for LaundryMate, an online laundry services firm, which raised Rs 50 crore ($6.2 million) from Blume Founders Fund.

LaundryMate stated in a press release that the investors involved in the pre-series-A funding round included prominent figures such as Ankit Bhati, co-founder of Ola; Deepak Goyal, managing partner at Boston Consulting Group; Karan Singh, co-founder of Trilegal; and Sankalp Saxena, managing director of Nutanix India, as per reported by The Economic Times.

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“Very soon we will be raising $10-15 million in our Series A round to fund our national expansion,” Abhinay Choudhari, Co-founder of LaundryMate said.

LaundryMate announced the establishment of Bengaluru’s largest laundry facility in India, equipped with state-of-the-art machines imported from Belgium, Italy, Turkey, the US, and Dubai.

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In 2021, Choudhari decided to leave Bigbasket, a prominent e-grocery company, just two days after Tata Digital announced acquiring a majority stake in the company. Before his time at Bigbasket, Choudhari had gained professional experience working at Mitsubishi Corp and Infosys.

“We have had a strong belief in the untapped potential of the ‘industrialization of laundry’ for everyday consumers,” said Sarita Raichura of the Blume Founders Fund.

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Blume Founders Fund, an initiative by Blume Ventures, specializes in investing in startups at various stages, including pre-seed, seed, and pre-Series-A.

About LaundryMate

LaundryMate, established in October 2022 in Bengaluru, was founded by Abhinay Choudhari, Raghavendra Joshi, Tripat Preet Singh, Uday Vijayan, Asad Zaidi, and Pushpendra Yadav. The company provides services to both the B2C and B2B segments.

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