China’s top ‘Uber for laundry’ startup cleans up with $100M series B funding

(Photo by Shuck)

China’s leading on-demand laundry startup, Edaixi, this week revealed it has secured US$100 million in series B funding. The latest investment, just over a year after getting US$20 million in series A from Matrix Partners and SIG, is led by Baidu and followed by the two previous backers, according to a report on QQ Tech.

People can use the Edaixi service in over a dozen cities across China, with a large bag of laundry costing RMB 99 (US$16), or lower prices are available for single items – all the way down to just RMB 9 (US$1.50). Customers can submit an order from Edaixi’s website, native app, or WeChat service account; the startup promises to return items all freshened up within 72 hours.

Edaixi takes orders through WeChat.

Edaixi’s blockbuster funding means it has raised a lot more than its Silicon Valley counterpart Washio, which locked down US$10.5 million for its series A.

On-demand startups are booming in China’s main cities, with everything from manicurists to mechanics, meals to massages.

See: O2Overload: the past, present, and future of China’s on-demand explosion

(Source: QQ Tech – article in Chinese)