Japan’s Elan Corp Invests in Linen Management Startup Quick Smart Wash, Expansion and Digitization Ahead
Quick Smart Wash (QSW), a linen management firm, has raised USD 5.15 million from Japan-based Elan Corporation.
The home grown linen management firm plans to use the freshly raised funds to expand capacity from the existing 35 Tons per day (processing 100,000/- clothes every day) to almost 55 Tons KG per day (processing 165,000 pieces every day) within this financial year.
Quick Smart Wash | Linen Management
Quick Smart Wash is a linen management startup that offers professional linen management & laundry services in India. The startup currently has central processing units (CPU) in Jaipur, Manipal-Udupi, Delhi NCR, Hyderabad, Bengaluru, and Jalandhar-Amritsar.
Speaking about the development, Rakesh Sharma, Managing Director of Quick Smart Wash Private Limited, highlighted that the firm is the first-only firm to offer a complete end-to-end Linen Management Service for hospitals in India.
“Elan is a pioneer and market leader in providing hospitalization set (CS set), and I believe this partnership will help us build more capacity with deep technology sharing. It will further augment our strength in the areas of research and development especially in catching future trends and delivering high and affordable quality service to the market.”
As the startup is preparing for its IPO, it plans to raise additional capital before it gets public to make a presence across India in the coming years. It targets to capture a 10 per cent share of the Hospital linen management sector.
Statement from the Investment
Commenting on the development, Hideharu Sakurai, Chairman and CEO of Elan Corporation, said,
“We have done a feasibility study for the CS-Set (Care Support-Set) business in India and realised that the linen supply company is one of the most important elements for success. Quick Smart Wash has huge potential in the linen rental business to accommodate India’s emerging market needs.”
QSW has aggressive expansion plans at sight, and in this current financial year, it plans to set up CPU in Kochi, Kannur, Chennai, and Ahmedabad, reaching 9 states across the country.
As per the startup, it targets to increase the revenue by almost 2.5X – 3.0X in the next 24 months, with plans to launch a hassle-free Inventory Management System that will digitize the entire ecosystem of inventory management.
Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, debt funding, CFO Services, or other startup related legal services, contact us.