BENGALURU, SEPTEMBER, 28, 2023: Indian-grown, Quick Smart Wash (QSW) Private Limited announced raising 5.15 Million USD from Elan Corporation, headquartered in Matsumoto city Japan.
QSWPL has already successfully set up and run its processing units at Jaipur, Manipal-Udupi, Delhi NCR, Hyderabad, Bengaluru, and Jalandhar-Amritsar. In this current financial year, QSW is planning to set up a CPU in Kochi, Kannur, Chennai, and Ahmedabad, reaching 9 states across the country.
The funds raised will help expand capacity from the existing 35 Tons per day (processing 100,000/- clothes every day) to almost 55 Tons KG per day (processing 165,000 pieces every day) within this financial year. QSW targets to increase the revenue by almost 2.5X – 3.0X in the next 24 months. The company also has a plan to launch a hassle-free Inventory Management System thus digitizing the entire ecosystem of inventory management.
Announcing the details of fundraising Mr. Rakesh Sharma, Managing Director of Quick Smart Wash Private Limited said, “We are the first-only firm to offer a complete End-to-End Linen Management Service for hospitals in India. Elan is a pioneer and market leader in providing hospitalization set (CS set) and I believe this partnership will help us build more capacity with deep technology sharing. It will further augment our strength in the areas of research and development especially in catching future trends and delivering high and affordable quality service to the market.”
“The pandemic has not only propelled the demand for more hygiene and robust laundry care in hospitals but has also created more awareness towards “high standard infection control”. Now, we are set for the next leg of growth and contribute to modernizing the Indian Linen Management industry,” added Mr. Sharma.
Quick Smart Wash has the plan to raise additional capital before IPO, to make a presence across India in the coming years and targeting to capture a 10% share of the Hospital linen management sector, increasing its processing capabilities to 200 Tons per day i.e. almost 600,000/- pieces per day, with its presence in almost 15 plus states across the country. The market size for the segment currently served by Quick Smart Wash i.e. Healthcare, Educational Institutes & Hospitality sector would account for nearly 4 Billion USD per year. Overall laundry market in India as a whole accounts for 15 billion USD per year including B2B and B2C segments.
Speaking on the investment, Mr. Hideharu Sakurai, Chairman, and CEO, of Elan Corporation said, “We have done a feasibility study for the CS-Set (Care Support-Set) business in India and realized that the Linen Supply Company is one of the important elements for the success. Given its track record for tremendous work, Quick Smart Wash has huge potential in Linen Rental Business to accommodate India’s emerging market needs. We foresee a big synergy to work together, therefore, we have decided to make an investment.”
