Bengaluru-based home services startup Housejoy has made its first acquisition after it snapped online laundry services player MyWash, at an undisclosed amount.
The acquisition deal comes a little over a month after Housejoy closed a $23 million Series A that was led by Amazon. The deal would give Housejoy a foothold in "a strategic category" to help drive repeat customer usage.
Talking about the acquisition, Saran Chatterjee, CEO at Housejoy said, "Laundry is strategic to Housejoy because of its frequency. The MyWash team has demonstrated the best operational knowhow to scale laundry. We now have the possibility to accelerate the growth in laundry beyond the current growth rate."
Bengaluru-based MyWash was founded in 2014 by BITS Pilani alumni Silus Chintapalli and Raghu Bharat along with Anna University engineering graduate Balaji Ashok. MyWash is simply the UBER for laundry & dry cleaning in India. They provide laundry and dry cleaning services on-demand. MyWash.in picks up your dirty laundry and dry cleaning, and returns them clean, ironed, and folded within about a day.
About 10 core team members, along with the three founders, are expected to join Housejoy post this acquisition.
Prior to acquisition, MyWash had raised $1 million in funding from early-stage fund Orios Venture Partners, and then was in talks with investors like South African internet and media giant Naspers for series-A.
Housejoy will now take care of client's laundry and dry cleaning, with pickup and delivery right at consumer’s doorstep. Housejoy already offers laundry services in Bengaluru, Delhi, Mumbai, Hyderabad and Chennai.
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