Hyderabad: Hyderabad-based laundry services PKC Laundries that started operations one-and-a-half year back has acquired two companies – Spoorthi Krupa Laundry services and the Laundro Shine.
As part of the acquisition the two plants that were available with the companies have now become part of PKC Laundries. These two acquisitions will not only help the startup get access to plant but also help them in providing high quality services in a quicker and smoother manner.
Talking to Telangana Today, PKC Laundries founder Premanth Kundurthi said, “Earlier, we were only aggregators of washermen, but now with the acquisition we are able to wash and iron the clothes in our own plants. With this we have close to 50 members working with us and are having two stores in the city.”
The laundry startup, which has invested about Rs 15 lakh so far as seed capital, is still looking to raise between Rs 50 lakh to Rs 1 crore as Series-A funding. Founded by Premanth Kundurthi and Chaithanya, the startup offers washing, pressing, drycleaning, dyeing and darning.
With the acquisition, the startup is also looking at rolling out franchisee options as they are not fully taking care of the operations. In addition, PKC is generating revenue of Rs 8-9 lakh per month and going ahead it is targeting revenue of Rs 20 lakh per month by mid-2018.
PKC, which was previously only targeting gated communities, villas and apartments, is now planning to get into commercial and corporate space as well. “As part of the commercial space we are targeting SPAs, beauty clinics, resorts, hotels and schools/colleges. While for the corporate part we are in talks in Signode and Cigniti to provide laundry services to their employees,” Kundurthi said without divulging details about the finances of the acquisition.