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Flashdoor raises money from former, current Flipkart executives

Money to be used to expand the team and on technology, logistics

T E Narasimhan  |  Chennai 

Flashdoor raises money from former, current Flipkart executives

Laundry service platform Flashdoor has raised an undisclosed amount from angel investors, including former Flipkart executive Sujeet Kumar, Flipkart's chief business officer Ankit Nagori and Tracxn Labs.

Ankit Agarwal, co-founder, Flashdoor Internet Services, said the company would use the money to expand its core team and upgrade technology. He declined to disclose the amount of money raised.

"With the current round of fundraising, we can survive for the next 9-12 months," Agarwal said. The company would go in for another round of fundraising to support its plans to expand to new cities, he added. Lead investor Kumar earlier headed Flipkart's captive logistics business WS Retail.

Agarwal said the investors, who would be joining the board, would be mentors and would guide the company in marketing, understanding strategy and raising money.

Bengalaru-based Flashdoor was founded by IIT Delhi graduates Agarwal and Himanshu Gupta. Agarwal was with Flipkart before starting Flashdoor while Gupta worked with Amazon and Oracle.

Flashdoor conducts 1,500 transactions a month and plans to take the count to 30,000 by March 2016, by when it also intends to enter two other metro cities. The potential cities include Delhi NCR, followed by Mumbai, Hyderabad and Pune.

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First Published: Sat, November 14 2015. 22:25 IST