Shoppers Stop non-executive chairman invests in Chennai-based laundry startup Wassup

Company raised $2 million from HNIs and plans to raise another $10 million from VCs

Wassup, an on-demand laundry and dry-cleaning service, has raised $2 million (Rs 12.9 crore) from high networth individuals, including B S Nagesh, non-executive vice-chairman of Shoppers Stop, and former Barclays India chief executive Mani Subramanian, co-founder R Balachandar said. They have come in during pre-Series A fund-raising. The firm now plans to raise $10 million from venture capital funds. Wassup's co-founder R Balachandar told Business Standard that other HNIs are T Anil Jain, chairman and managing director of Refex Industries Ltd, Ranga Iyer, former MD of pharma major ...