The on-demand laundry startup Mywash was recently acquired by Housejoy, which is an Amazon venture. The amount involved is undisclosed and various sources have confirmed that this move is more of a hire than an acquisition. Mywash members would soon be operating hand in hand with the Housejoy team and they expect to up their scales to provide 10,000 services per day in the laundry domain by the end of next year.

Housejoy’s CEO Saran Chatterjee commented on how smart the Mywash team is, especially since they have demonstrated the perfect operational pitch to scale laundry. “We couldn’t be more excited about the possibilities. We now have the possibility to accelerate the growth in laundry beyond the current growth rate”, he said.

The Team At Mywash

Mywash is the brainchild of Silus Reddy, Chintapalli, Raghu Bharath and Balaji Ashok, who are all BITS Pilani graduates. It commenced operating in 2014, and had received a seed round from the Orios Venture. Raghu Bharath, a Mywash co-founder opined that this is a great opportunity for the Mywash team to achieve its objective of becoming the top laundry player in India. He also spoke about how well both Mywash and Housejoy teams are getting along, and how they share the same ideologies.

The latest KPMG report marks that the organised laundry market in India is estimated to be around Rs. 5000 crore. The unorganised section is worth about Rs.2, 00,000 crores. Mywash also has plans to expand their services on to verticals like beauty, driving services and home services.