Tech-enabled laundry start-up UClean is looking at raising fresh funds to the tune of USD 5 million (about Rs 32 crore) this year to fuel its aggressive growth plans.
"We do have plans to raise funds this year which would primarily be utilised for technology, training and marketing. We are looking at raising around USD 5 million in this current year," UClean founder and CEO Arunabh Sinha told PTI.
Earlier, UClean had secured seed funding of USD 1 million from Franchise India and Mumbai-based angel investor Rajiv Jalan.
The company has drawn up aggressive plans to grow its business in the country. It plans to develop about 300-350 stores into UClean stores in the country.
"We currently have 8 stores which are operational across the top 5 tier I cities in India and these stores have all come up in the last 5 months. Our model is predominantly a franchise model," Sinha added.
UClean has partnered US-based Alliance Laundry Systems for equipment, knowhow and training.
"All our UClean stores on a pan-India basis are exclusively equipped with machines from Alliance Laundry Systems, which is the world's largest manufacturer of commercial laundry equipment," he added.
UClean was founded by IIT Bombay graduate Arunabh Sinha in October 2016.
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