Bangalore-based LaundryAnna raises 1Cr in seed funding
After PickMyLaundry, another Bangalore-based doorstep laundry startup LaundryAnna has raised a seed funding of Rs.1 crore from a group of angel investors. The funds will be used to expand their operations to the entire Bangalore area with a combination of hub and spoke model and physical stores.
Started in 2015 with a capacity of just 300 garments per day, LaundryAnna is now processing over 3000 garments every day. The startup operates on a full stack model and owns complete supply chain from logistics to garment processing. Currently, it operates only in some selected areas in South Bangalore.
“Even though a lot of startups have cropped up across the country over the last couple of years, it still is not enough in terms of the size of the addressable market. LaundryAnna doesn’t see this as a market of just cleaning and delivering garments at the doorstep, but building trust and goodwill with the customers along with top-notch service guarantee to the customer. Still, there are abundant opportunities and no big player emerged as of now, and the one who shows long-term commitment, better in-house technology and logistics along with a strong focus on customer satisfaction can certainly stand to gain a lot of traction and will emerge as the leader,” Prateek Rana, one of the Founders said in a press note.