China-based laundry services app developer Edaixi has closed a RMB100m ($14m) series B+ round led by detergent manufacturer Libai Group, China Money Network reported today.
Conglomerate Profit Palace Group also took part in the round, which follows a $100m series B led by internet company Baidu in August 2015. That original series B round also included SIG China, a local subsidiary of technology and trading firm Susquehanna International Group, and VC firm Matrix Partners.
A startup created by Beijing-based laundromat franchise Rongchang in 2013, Edaixi is the developer of an app that allows customers to submit requests for their laundry to be picked up, washed, dried, ironed and returned within 72 hours.
Libai is a strategic investor in Edaixi and will supply the detergent for the company’s laundry services, which are currently offered in several cities across China, including in Beijing, Shanghai and Shenzhen.
A $20m series A round featuring SIG and Matrix closed in November 2014. Internet company Tencent and Rongchang supplied $3.2m in seed capital for Ediaixi in July 2014.
Today’s news follows a number of key changes Edaixi has made this year. The company abandoned efforts to expand into housekeeping services in order to focus on its core business and is building more partnerships to limit the need for investment in assets.