Non-face-to-face Mobile Laundry Service 'Laundrigo' Secures 49 Billion KRW Series C Investment

Leading 30 Billion KRW Investment by Korea's 1st Generation Private Equity Fund H&Q Korea
Leading Domestic Mobile Laundry Sector... High Growth and Strong Performance in Unmanned and Hotel Laundry Services

[Asia Economy Reporter Kim Cheol-hyun] Uisikju Company (CEO Cho Sung-woo), which operates the non-face-to-face mobile laundry service Laundrigo, announced on the 22nd that it has raised a total of 49 billion KRW in Series C funding.

This investment was led by H&Q Korea, the first-generation domestic private equity fund (PEF) operator, which invested 30 billion KRW, along with new investors including the Bezeus-KB Investment consortium, Pebbles Asset Management, KB Securities, Hanwha Investment & Securities, and Musinsa. Existing investors such as Altos Ventures, AJU IB Investment, and SoftBank Ventures also participated.

Since launching Laundrigo in March 2019, Uisikju Company introduced a non-face-to-face mobile laundry service, achieving an average annual sales growth rate of about 300% even amid the COVID-19 crisis, thus opening the mobile era for the previously underdeveloped laundry industry.

In particular, Uisikju Company newly entered the unmanned smart laundromat (Laundry24) and hotel laundry (Laundrigo Business) sectors, growing into the number one company in Korea by sales across all fields including mobile, unmanned, and hotel laundry. Compared to last year, it led nearly triple sales growth, and profitability is rapidly improving through economies of scale formed by smart factories, which has earned high praise from investors.

H&Q Korea, which led this investment, stated, "We expect Uisikju Company to become a game changer amid fundamental lifestyle changes such as the future growth potential of mobile laundry, outsourcing and upgrading of household chores due to the increase of single-person and two-person households."

Uisikju Company plans to focus this investment on smart factory logistics automation to meet increasing customer demand, system advancement to enhance customer experience, and expansion of Laundrigo’s new service areas. Additionally, various collaborations related to secondhand clothing and laundry will be carried out together with Musinsa, which newly participated in the investment.

Cho Sung-woo, CEO of Uisikju Company, said, "With this large investment, Uisikju Company will strive to grow into a company with the world’s best competitiveness beyond Korea and fulfill its social responsibilities."

This content was produced with the assistance of AI translation services.