India Dealbook: Laundry services startup Wassup, Fyle raise funding

Chennai-based on-demand laundry services Wassup has raised $3.2 million while expense management platform Fyle Technologies has secured $40k funding.

Wassup raises $3.2m in pre-Series A round

Wassup, an on-demand laundry and dry-cleaning service, has raised $3.2 million in pre-Series A round of funding from existing investors Anil Jain, MD, Refex Energy, HNIs from India and the Middle East.

The company will use the investment for expansion and build a stronger management team.

“The company has a sustainable, scalable model and has been steadily growing since its start in 2011. Among several laundry service startups that sprung up in the last 18 months, some of which have shut down, Wassup has steadily added seven cities to its list,” said Anil Jain.

Previously, the company had secured a $2 million funding from Arun Chandra Mohan and Praveen Sinha, the co-founders of Jabong and angel investor Micky Watwani. It had also acquired laundry services provider Ezeewash and Chamak.

Fyle receives $400k funding led by Pravega Ventures

Fyle Technologies, an expense management company, has received $400,000 seed funding led by early-stage fund Pravega Ventures.

According to an article in Economic Times, BeeNext and angel investors like redBus cofounder Phaninder Sama, Zivame founder Richa Kar and Joydeep Sen Sarma, cofounder of cloud company Qubole, also participated in the round.

The startup will use the money for expanding its business.

Bangalore-based Fyle Technologies was founded in February in 2016. The platform of Fyle Technologies can be plugged in email clients such as Google’s Gmail and Microsoft’s Outlook. It can then identify expense related data on email, such as an air ticket receipt or a phone bill, and by a single user click convert that data into a format that can be retrieved in a structured format and sent to the expense tool.

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