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.