Quick Smart Wash raises $5.15 million from Japan's Elan Corporation
Quick Smart Wash has a huge potential in the linen rental business to accommodate India's emerging market needs.
![Quick Smart Wash raises $5.15 million from Japan's Elan Corporation](https://cdn.zeebiz.com/sites/default/files/2023/09/29/262850-quick-smart-wash-official-website.jpg?im=FitAndFill=(1200,900))
Quick Smart Wash Pvt Ltd on Friday said it has raised USD 5.15 million (over Rs 40 crore) from Elan Corporation, Japan in a fresh round of funding.
The company, which offers professional linen management services, said the funds raised will help expand capacity from processing 1 lakh clothes every day to almost 1.65 lakh pieces every day within this financial year.
"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 hospitalisation set and I believe this partnership will help us build more capacity with deep technology sharing," Quick Smart Wash Managing Director Rakesh Sharma said."
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," he said.
Elan Corporation Chairman and CEO Hideharu Sakurai said, "We have done a feasibility study for the CS-Set (care support-set) business in India and realised that the linen supply company is one of the important elements for the success."
Quick Smart Wash has a huge potential in the linen rental business to accommodate India's emerging market needs, Sakurai said, adding, "We foresee a big synergy to work together, therefore, we have decided to make an investment." The company said it also plans to launch a hassle-free inventory management system through digitisation. It has processing units at Jaipur, Manipal-Udupi, Delhi-NCR, Hyderabad, Bengaluru, and Jalandhar-Amritsar.
This fiscal Quick Smart Wash plans to set up units in Kochi, Kannur, Chennai, and Ahmedabad, reaching nine states across India, it added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
![https://www.zeebiz.com/personal-finance/photo-gallery-sip-swp-monthly-pension-income-retirement-corpus-planning-calculator-inr-rs-20000-monthly-investment-for-15-years-inr-99000-monthly-return-for-42-years-313283](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316973-rupee-pixabay-take-1.jpg?itok=02-hJh59)
SIP+SWP: Rs 20,000 monthly SIP for 16 years to get Rs 99,000 monthly income for 42 years; how is it possible?
![https://www.zeebiz.com/market-news/news-bajaj-finserv-rvnl-borosil-renewables-carysil-railtel-corporation-stocks-to-buy-hdfc-securities-recommendation-picks-target-stop-loss-bse-nse-313386](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317091-26.jpg?itok=gE1cWt7z)
RVNL, Bajaj Finserv and 5 more: Brokerage recommends buying these 7 stocks for up to 3 months | Check target, stop loss
![https://www.zeebiz.com/personal-finance/photo-gallery-nps-vs-ups-vs-ops-monthly-pension-income-retirement-corpus-calculator-what-will-be-your-pension-on-inr-rs-10000-contribution-for-35-years-expert-calculations-313361](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/317060-rupee-pixabay-take-2.jpg?itok=cOVdof_v)
NPS vs UPS vs OPS: What will be your monthly pension if you contribute Rs 10,000 monthly for 35 years? Get expert calculations
![https://www.zeebiz.com/personal-finance/photo-gallery-top-7-etf-sip-mutual-funds-in-5-years-calculator-how-inr-rs-21000-monthly-investment-has-grown-in-nifty-sp-bse-next-50-cpse-uti-icici-pru-nippon-india-motilal-oswal-bharat-22-nift-mid-infra-313306](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316994-indian-currency-pixabay-take-1.jpg?itok=JURVEkst)
Top 7 ETF Mutual Funds With Highest SIP Returns in 5 Years: How Rs 21,000 monthly SIP has grown in each ETF over the years
![https://www.zeebiz.com/personal-finance/photo-gallery-sbi-senior-citizen-fd-fixed-deposit-latest-interest-rate-2024-calculator-what-be-maturity-amount-with-return-on-investments-of-inr-900000-lakh-in-1-3-5-year-guaranteed-return-scheme-retirement-planning-313221](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_700x394/public/2024/09/06/316909-note-coin-pixabay-take-1.jpg?itok=3RPKcBYE)
SBI Senior Citizen FD Rates 2024: What you can get if you invest Rs 3 lakh, Rs 5 lakh, Rs 7 lakh, and Rs 9 lakh in 1-, 3-, and 5-year FDs
03:26 PM IST