Tooler raises $110,000 angel funding, plans to enter offline segmentTausif Alam
Delhi-based laundry care startup Tooler has raised angel funding of USD 110, 000 from a group of angel investors led by Raghu Khanna, Founder and CEO, CASHurDRIVE and Sameer Gupta, Ex-GM, Paytm.
The platform plans to invest the funding to increase the supply-chain and come up with offline outlets in areas of Delhi, Gurgaon and Ghaziabad to attract location based customers. Currently, it accepts orders via mobile app and website only and offers services in Delhi, Gurgaon and Noida. “We realize that there’s a large proportion of potential customers who want to use our services offline as well. This step will help the company to be a name not just in the online laundry market but as well in on-ground market,” says Vishal Gupta, CTO and Co-founder, Tooler.
He adds that amount will also be spent on marketing of the product and building iOS version app for the iPhone users. It is also planning to adopt franchise model. “The funding will help us reach out to more customers as our main focus now becomes on expanding the marketing strategies and extending our operations. Our aim is to create a brand in this segment.”
Launched in June 2015, the platform claims to handle around 100 orders per day with close to 80 percent repeat orders. Within the next 6 months, the company targets to deliver 10,000 orders in a month and cross the GMV over Rs 30-35 lakhs per month.
Market and competition
According to KPMG reports, unorganised laundry in India is around Rs 2.2 lakh crore opportunity. The report believes that market is set to grow even more as more middle-class people with better mobile technology want to outsource their laundry pain to on-demand service providers like Tooler.
However, Tooler is not new in the segment and faces stiff competition from Pick My Laundry in Delhi, including some horizontal platforms like Housejoy, Doormint and Zimmber, among others. Bengaluru-based My Wash is another startup which works in the same segment.
With a tight competition on the market front, Raghu Khanna, one of the angel investors applauds the Tooler team and says, “When I first met the team, I could sense the dedication these men had. They were stern on being the daddies of e-laundry.”