What is Laundrygo?
Laundrygo operates a unique mobile contactless laundry service, providing customers with a convenient platform to apply for services and view rates. Users can then pick up their clean laundry from designated collection boxes, known as "Lundlets." Headquartered in Seoul, South Korea, Laundrygo aims to revolutionize the traditional laundry industry through technological integration and a user-friendly mobile experience. The company's innovative approach addresses the need for efficient and accessible laundry solutions in urban environments.
How much funding has Laundrygo raised?
Laundrygo has raised a total of $37M across 1 funding round:
Series C
$37M
Series C (2022): $37M with participation from H&Q Korea, KB Securities, Altos Ventures, Hanwha Investment & Securities, SoftBank Ventures Asia, and AJU IB INVESTMENT
Key Investors in Laundrygo
H&Q Korea
H&Q Korea is a pioneer in the Korean private equity market, focusing on creating value in industry-leading companies through partnerships with management. They target market-leading mid-market companies with significant growth potential.
Altos Ventures
Altos Ventures is a Silicon Valley-based venture capital firm that invests in early to growth-stage technology companies in both consumer and enterprise sectors. They typically serve as the first institutional investor and support portfolio companies over the long term.
SoftBank Ventures Asia
SoftBank Ventures Asia is the early-stage venture capital arm of the SoftBank Group, specializing in ICT investments including AI, IoT, and smart robotics. They look for early to growth-stage start-ups with strong global business potential.
What's next for Laundrygo?
The recent major strategic investment in Laundrygo signals a pivotal phase for the company, likely enabling expansion into new markets and further development of its technological infrastructure. This substantial backing suggests a focus on scaling operations and enhancing the customer experience, positioning Laundrygo for significant growth within the competitive laundry service industry. Future initiatives may include broadening the network of "Lundlet" collection points and optimizing the mobile platform for greater user engagement.
See full Laundrygo company page
