HelloDhobi Raises Funds from Hong Kong-based Investment Firm Swastika Company


Hello Dhobhi techstory.in



29 July 2016, India :

Hong Kong-based investment firm Swastika Company Ltd and some Mumbai-based affluent individuals have invested an undisclosed amount in Pune-based HelloDhobi Dry-Cleaners Pvt. Ltd.

Arman Verma, co-founder and CEO of HelloDhobi, said the company will use the funds to expand operations in Pune and hire staff across verticals. The company offers subscription services to retail customers and also targets small restaurants, big hotels as well as clinics and hospitals.

“We get a monthly billing of anywhere between Rs 10,000-15,000 from the first category and about Rs 1-5 lakh from the second category,” said Verma.

Verma claims HelloDhobi’s operations achieved positive unit economics within six months of inception after it cut logistics costs, identified its main markets and created operational hubs. It claims to have fulfilled 10,000 orders since inception and has about 4,000 paying customers. Around 85% orders come from repeat customers.

“Our target demographic is the working professional staying away at home. We are able to achieve a 55-75% product margin on a given day. We hope to become net profitable by July 2017 at the current rate,” said Verma.

HelloDhobi was founded in April 2015 by Verma, an alumus of Symbiosis Centre for Management Studies, and Kunal Sachanandani of Symbiosis International University. The startup ties up with industrial laundromats, aggregates customer-side demand and outsources the washing process to its partners. It involves itself at a process level that includes tagging, sorting, packing and quality control. It also takes care of logistics and delivery.


Also Read- Venture Catalysts Invests $150k in AppSay