Japanese care and support healthcare service provider Elan Corporation has invested $5.15 million in domestic laundry service startup Quick Smart Wash.
The startup, which is in process to raise $10 million as a part of its Series C round, plans to use the capital to expand its capacity and launch an inventory management system, it said in a statement.
Founded in 2013, Quick Smart Wash, offers customised solutions in professional management, on-campus laundry, and hospital laundry. It uses high-end technology to clean the clothes, for which it uses state-of-the-art machinery and environmentally friendly chemicals, addressing the demand for more hygiene and robust laundry care.
Currently, the company has processing units at Jaipur, Manipal-Udupi, Delhi NCR, Hyderabad, Bengaluru, and Jalandhar-Amritsar.
It further plans to expand to nine states covering cities including Kochi, Kannur, Chennai, and Ahmedabad within the current financial year.
“Elan is a pioneer and market leader in providing hospitalisation set (Care Support set) and I believe this partnership will help us build more capacity with deep technology sharing,” Rakesh Sharma, Managing Director of Quick Smart Wash, said in a statement.
“It will further augment our strength in the areas of research and development especially in catching future trends and delivering high and affordable quality service to the market,” he added.
Quick Smart Wash currently processes 100,000 clothes currently, and plans to increase it to 165,000 within the financial year, it said.
“We have done a feasibility study for the CS-Set (Care Support-Set) business in India and realised that the Linen Supply Company is one of the important elements for the success,” said Hideharu Sakurai, chairman, and chief executive officer of Elan Corporation.
“Given its track record for tremendous work, Quick Smart Wash has huge potential in Linen Rental Business to accommodate India’s emerging market needs. We foresee a big synergy to work together, therefore, we have decided to make an investment,” he added.
