• Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login
Thursday, January 21, 2021
KoreaTechDesk
No Result
View All Result
Koreatechdesk
No Result
View All Result
Home Investments

Laundry startup ‘Laundrygo’ attracts 6.5 billion won in Series A investment

 660 total views,  2 today views

Be one of the first to comment
KoreaTechDesk Writer by KoreaTechDesk Writer
PUBLISHED: June 26, 2019 UPDATED: June 26, 2019
in Investments
0
Bookmark(0)

Please login to bookmark

No account yet? Register

Laundry startup ‘Laundrygo’ attracts 6.5 billion won in Series A investment
12
SHARES
388
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Korea’s Naver acquires Canada’s storytelling platform Wattpad for $600 million

16th Invest Korea Week 2020 held virtually with in-depth discussions about how to thrive Post-Covid 

The mobile laundry service called ‘Laundrygo’ has attracted investments worth 6.5 billion won or $5.4 million just a month after its launch. The investment has been led by Softbank Ventures with participation from Altos Ventures and Hana Ventures. Hana Ventures chose Laundrygo as its first investment in new shares since its establishment.

A non-direct, but one-day service for clean laundry

Laundrygo is a laundry service that allows customers to put their laundry in a self-developed smart laundry collection box. The laundry is then done and returned to the customer by 12:00 pm on the same day. Laundrygo provides a complete laundry solution in one day including shipping it back to the customer’s door. It is a rapidly growing service as it has secured about 1,000 paid customers within one month of its release. It operates in eight districts in Seoul, including Gangnam, Seocho, Songpa, Mapo, Yongsan, Dongjak, Seongdong and Yeongdeungpo.

 The biggest feature of Laundrygo is its introduction of non-face-to-face services to the laundry business sector. Because it operates as a non-existent surface through a private collection box, customers don’t have to spend time or go out to find their laundry. All-in-one washing is convenient, including dry cleaning clothes that are left to dry cleaners.

Laundrygo operates its own smart factory and offers high-quality laundry services at reasonable prices through medium distribution margins and ways to reduce production costs. Through a monthly subscription service, users can use the service at prices up to 50 percent lower than the market price.

Investors banking on growing laundry market in S. Korea

The CEO of Lifegoeson Company Corp, the company behind Laundrygo, Cho Seung-woo, started his business Dum & Dumers in 2011 and sold it to Baemin. After serving as CEO of Baemin Fresh, he launched Laundrygo. Cho Seung-woo introduced early morning delivery service for Baemin in 2013 for the first time in the domestic commerce industry.  

South Korea’s laundry market is worth about 4.5 trillion won and is mostly offline. “As the laundry market has been rising steeply with the recent increase in the number of one to two people, the overall laundry market is expected to grow to more than 7 trillion won in the next 10 years,” an official of Laundrygo said.

 “The current rate of mobile laundry orders is less than 0.5 percent of the total market, but it is expected to account for 15 to 20 percent of the future.”  “It was very impressive for an early startup to set up and operate a global smart factory,” said Lee Joon-pyo, CEO of Softbank Ventures.

What’s your thoughts?
+1
0
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: InvestmentInvestorKorean StartupLaundrygoLifegoeson
KoreaTechDesk Writer

KoreaTechDesk Writer

KoreaTechDesk is a trustworthy source for news on the start-up industry in South Korea. It focuses on various tech start-ups, which are developing some unique and interesting products. press@18.206.160.104

Related Posts

Korea’s Naver acquires Canada’s storytelling platform Wattpad for $600 million#Content & Games
Content & Games

Korea’s Naver acquires Canada’s storytelling platform Wattpad for $600 million

January 20, 2021
16th Invest Korea Week 2020 held virtually with in-depth discussions about how to thrive Post-Covid #Events
Events

16th Invest Korea Week 2020 held virtually with in-depth discussions about how to thrive Post-Covid 

November 17, 2020
Opportunity for Global & Korean startups; ‘SmartCityX’ program by the USA Venture firm Scrum Ventures#AI & Big Data
AI & Big Data

Opportunity for Global & Korean startups; ‘SmartCityX’ program by the USA Venture firm Scrum Ventures

November 10, 2020
Korean startups in AI get support to go global from leading VC firm SOSV under KISED’s program#AI & Big Data
AI & Big Data

Korean startups in AI get support to go global from leading VC firm SOSV under KISED’s program

November 9, 2020
Sophist Capital launches online ‘Entrepreneur Talent Assessment’ to assess startups’ future prospects, new tool for investors during COVID-19 #Investments
Investments

Sophist Capital launches online ‘Entrepreneur Talent Assessment’ to assess startups’ future prospects, new tool for investors during COVID-19 

October 23, 2020
Naver-led investment to help Carousell achieve ‘unicorn’ status#Investments
Investments

Naver-led investment to help Carousell achieve ‘unicorn’ status

September 16, 2020
0 0 vote
Article Rating
Subscribe
Sign up Login
Notify of
Please login to comment
10 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
trackback
Azure DevOps Services
2 months ago

… [Trackback]

[…] Read More Info here to that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
Buy weed online
1 month ago

… [Trackback]

[…] Find More on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
santee alley replica watches
1 month ago

… [Trackback]

[…] Info on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
intelligent automation consultants
1 month ago

… [Trackback]

[…] Read More on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
replica rolex
1 month ago

… [Trackback]

[…] Find More Information here to that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
google calendar notifications
1 month ago

… [Trackback]

[…] Read More on on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
토토사이트
29 days ago

… [Trackback]

[…] Here you will find 91216 additional Info to that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
black platform christian louboutin replica
21 days ago

… [Trackback]

[…] Read More Info here on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
paito warna
4 days ago

… [Trackback]

[…] Read More here on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0
trackback
Philips 32PFL3008H/12 manuals
1 day ago

… [Trackback]

[…] Read More on on that Topic: koreatechdesk.com/laundry-startup-laundrygo-attracts-6-5-billion-won-in-series-a-investment/ […]

0

FREE NEWSLETTER

No Result
View All Result

TRENDING POSTS

  • Vietnamese startup Loship upgrades the customer experience game by combining food delivery and podcasts

     915 total views,  3 today views

  • Korean startup Twinny Robotics’ autonomous navigation robots help logistics companies reduce cost and save time 

     1,405 total views,  3 today views

  • Korean startup Letsee to launch a global version of Web-AR solution

     848 total views,  1 today views

  • Korean startup IMEMINE CEO Iksoo Park about how the SizeMine app will help fashion e-commerce reduce returns cost

     839 total views,  7 today views

  • Korean startup Riiid’s AI Education Challenge attracts over 2,700 teams around the world

     911 total views,  2 today views

  • Korean Startup J&T Biotech develops self-use auto-injector for allergy medication

     894 total views,  2 today views

  • Korean Startup Seoul Robotics’ 3D engine for Lidar sensors to make autonomous driving smarter 

     679 total views,  4 today views

  • Korean startup Vogo safeguarding environment with its eco-friendly vessels for the marine industry

     774 total views,  2 today views

  • Korean startup Neofect: Helping millions avail easy rehabilitation with smart therapeutic wearable devices

     441 total views,  3 today views

  • Korean startup Exosystems makes smart knee care solution Exo-Rehab for elderly

     611 total views,  5 today views

More from our network


  • ktd

  • atd

  • itd

  • ktt

  • kgd

  • kpp

  • ktp

  • kpoppost

  • ustechtimes
  • About Us
  • Account
  • Account
  • Alertme test
  • Ask Question
  • Connections
  • Cookie-policy
  • Dashboard
  • dashboard
  • DWQA User Profile
  • Edit
  • Edit Company
  • Edit Company
  • edit form 5
  • edit form 8 copy testing page
  • Events
  • Followers
  • Followers
  • Following
  • Following
  • for_companies carousal
  • homepage
  • Investment Opportunities
  • Investment Opportunities test
  • Investment Opportunities with filter
  • judges
  • login
  • Login
  • Logout
  • Logout
  • mailchimp
  • Member Directory
  • Member Directory
  • Mentors Community
  • My Bookmarks
  • my companies
  • My Points
  • My Saved Deals
  • Newsletter
  • Order Received
  • Payment
  • poll test
  • post submitted
  • Privacy Policy
  • profile
  • Questions
  • register
  • Registration
  • Sample Page
  • Sitemap html
  • Sponsorships
  • Submit post
  • Submit your Startup Profile here
  • Subscription
  • team memeber
  • Terms of Use
  • test
  • test
  • testdate
  • Thank You
  • Time Zone Test
  • TIPS X beSUCCESS KOREAN STARTUP SHOWCASE
  • User login
  • wp forms add company
  • you want to logout?

Copyright © 2020 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact : press@koreatechdesk.com

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • FinTech
    • Gadgets & Electronics
    • Health & Bio
    • IoT
    • Marketplaces & E-commerce
    • Robotics
    • Transportation & Logistics
    • Investments
    • Ecosystem & Lists
  • Interviews
  • Events
    • ComeUp
    • NextRise
  • Governments
    • KISA
    • KISED
    • KOCCA
    • KOTRA
    • MSS
    • NIPA
    • SBA
  • Programs
    • LAUNCHPAD
    • COMEUP STARS 120
    • K-Startup Grand Challenge
    • TIPS X beSUCCESS Global Project
  • Investment Opportunities
    • Launchpad France Demoday
    • TIPS Global Demoday
    • Launchpad USA Demoday
    • Launchpad Indonesia Demoday
  • Submit an Article
  • Forums
  • register
  • login

Copyright © 2020 KoreaTechDesk | About Us | Sponsorships| Terms of Use |Privacy Policy |Cookie Policy Contact : press@koreatechdesk.com

wpDiscuz
10
0
Would love your thoughts, please comment.x
()
x
| Reply

Insert/edit link

Enter the destination URL

Or link to existing content

    No search term specified. Showing recent items. Search or use up and down arrow keys to select an item.