Homegrown linen management firm, Quick Smart Wash (QSW) bagged USD 5.15 million from Elan, 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 nine states across the country.
The funds raised will help expand capacity from the existing 35 Tons per day (processing 100,000 per 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 to 3.0x in the next 24 months. The company also has a plan to launch a hassle-free Inventory Management System thus digitising the entire ecosystem of inventory management.
Announcing the details of fundraising Rakesh Sharma, Managing Director of Quick Smart Wash 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.”
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 per cent share of the Hospital linen management sector, increasing its processing capabilities to 200 tons per day i.e. almost 600,000 per pieces per day, with its presence in almost 15 plus states across the country.
Speaking on the investment, 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.”
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