your password has been reset successfully, Please login again.

Laundry Biz UClean Raises $1 million from Franchise India

Franchise India backs UClean laundry business with $1 million funding.
BY BEx Bureau
BusinessEx
Feb 28, 2018

According toEuromonitor International, the laundry service market in India is projected to grow to $76.5 billion by this year. In this market, a laundry service provider UClean has raised $1 million (Rs.6.5 crore) funding from Indias largest franchise and retail solutions provider Franchise India.

In 2016, the Gurugram-based UConcepts Solutions LLP owned startup UClean was founded by Arunabh Sinha. The startup has also raised funding from Franchise India in late 2016. The startup offers services like washing, ironing, dry cleaning, sofa cleaning, etc and is expanding by using franchising solution through Franchise India. The startup plans to use the raised funding to launch Mint Clean which offers on-demand home cleaning services.

Sinha said, We would be building Mint Clean through the franchise route and would be targeting 100 franchises by 2020.

In 2017, the franchise solutions provider Franchise India acquired a majority stake in real estate brokerage firm RE/MAXs India arm for Rs.50 crore.

In 2016, Franchise India took part in a funding round to invest in Ahmedabad-based speciality tea startup The Kettlery. Also, in the same year, it had invested $3 million in logistics startup TYGR in Pre-Series A round of funding.

Please add your Comment
SIMILAR News
January 22, 2019
China expects a slowdown in the FY-2019; trade war and decreasing demand need to be blamed. ...More
By Jaspreet Kaur
January 22, 2019
USB Q4 pre-tax profit leaps down by $1.038 billion; the bank envisions a slowdown in the further cou ...More
By Jaspreet Kaur
January 16, 2019
Commerce and Industry Ministry has exempted taxes on startups, who actively looking for angel invest ...More
By Jaspreet Kaur
January 10, 2019
DBS, Singapore banking group informs that the country has fallen short to attain the decided annual ...More
By Jaspreet Kaur
January 10, 2019
Honda Cars India, launched a new variant model of City, which comprises appealing features. ...More
By Jaspreet Kaur
January 02, 2019
Owing to the sluggish market in America and China, Hyundai heir decides to restructure the automobil ...More
By Jaspreet Kaur
November 20, 2018
Through this investment, BillDesk will develop new product lines for its payments and loyalty busine ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta
October 09, 2018
The company is expecting that the AP unit will help it to strengthen its presence in the highly comp ...More
By Vaishnavi Gupta
September 27, 2018
The new company will be named Capri Holdings Ltd. ...More
By Vaishnavi Gupta