Housejoy, a provider in the home services segment, has acquired MyWash, an on-demand dry cleaning and laundry company, at an undisclosed amount.
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."
Housejoy will now take care of client's laundry and dry cleaning, with pickup and delivery right at consumer’s doorstep. Raghu Bharat, Co-Founder at MyWash said, “We see a lot of synergy between MyWash and Housejoy. This is the best opportunity for the team to scale our vision of being the number one aundry player in the country. "
The entire MyWash core team will be joining Housejoy and operate from their office. The company is looking to scale to 10, 000 services per day over the next year for the laundry vertical.
Housejoy had started laundry services in-house six months ago. "We have a lot of requests for laundry services," says Chatterjee. The average size of orders that Housejoy gets for laundry services is in the range of Rs 400 and for home services it is around 500 bookings a day.
The company operates in 11 cities in India but the laundry services will be focused only in three cities -- Mumbai, Delhi and Bangalore, at first.
The laundry vertical is expected to contribute around 10 percent to the company's turnover. The company has had an average growth of 10-15 percent month on month, says Chatterjee.
Launched in January 2015, Housejoy provides an aggregation of services to customers ranging from maintenance and home repairs to plumbing, electrical services, home cleaning and computer repairs. It also offers specialized services in beauty and in-house bridal make-up and are expanding their service portfolio.
It had raised $4 million funding in Series A from Matrix Partners and $22 million in Series B led by Amazon and included new investors Vertex Ventures, Qualcomm and Ru-Net Technology Partners.
Published Date: Feb 03, 2016 12:53 PM | Updated Date: Feb 03, 2016 12:54 PM