[Funding alert] Lavado raises undisclosed sum from Pepperfry founders
Lavado, a Mumbai-based laundry and accessory care service startup, has raised an undisclosed amount of funding in a pre-institutional round from the founders of Pepperfry.
The company said it will use these funds to step up logistical coverage across Mumbai while simultaneously expanding its ecosystem of local laundry businesses.
Disha Jain, Founder of Lavado said,
“Lavado offers an end-to-end solution across all laundry and accessory care needs including clothes, bags, shoes and other household items on the click of a button. The laundry business is largely unorganised today and our goal is to bring reliability and detailing into this business by standardising processes, and the use of technology across all our partner laundries.”
“With these funds, we are looking to expand our services to Thane, Navi Mumbai and Vashi, and soon we will raise Series A for further expansion in other cities,” Disha added.
Lavado recently launched its mobile app (available on both Android and iOS platforms) to enable a seamless and transparent laundry experience for its discerning consumers.
Disha Jain, Founder and CEO, Lavado, believes that clothes and accessories are the modern-day equivalent of jewellery, and need a similar level of detailing and reliability in its care. With an aim to provide such custom service, in 2017, she started her venture Elan Lifestyle, popularly known as Lavado.
In the last four years, the company claims to have serviced more than half a million garments, thousands of shoes, and accessories. The bootstrapped venture has successfully established itself in the Eastern suburbs, and built a customer franchise with 70 percent repeat rates and 99 percent positive ratings.
According to Lavado, the laundry market in India is a $32-billion opportunity but does not see any large national players due to complexity around logistics and standardised processes. Lavado aims to grab a large share of this market, one city at a time, through the use of technology, and by putting in place inspection and communication checkpoints that are key to building a successful laundry and accessory care business.
Ambareesh Murty, Co-founder and CEO, Pepperfry added,
“We think that the organised home laundry market is at a nascent stage, ripe for profitable disruption through technology. Given Disha’s vision for Lavado, we believe she can cause this disruption and contribute to the rise of the category in India.”