U.K. startup Oxwash has secured £10 million ($12 million) in Series A funding to expand its sustainable laundry service nationwide and potentially launch in the U.S. The company uses biodegradable detergents and ozone as a disinfectant to reduce water consumption and lower temperatures. Oxwash operates out of several hubs, using cargo e-bikes and electric vehicles to transport items. It has gained B Corporation status and counts individual Airbnb hosts and NHS trusts among its customers. The funding will be used for U.K. expansion and technology development.
Oxwash is known for its “gentle” wet cleaning technique, which replaces the use of harsh solvents in dry cleaning. It also claims to have achieved “operational profitability” across its three washing facilities and quadrupled its revenue in the last 12 months. The new funding will go toward building a giant, centralized washing facility that can service clients “up and down the country.” It will also be invested in new methods such as acoustic drying, robotics, and computer vision for optimization of its processes.
The Series A funding was led by Untitled VC, with existing investors such as Twitter co-founder Biz Stone, Indeed founder Paul Forster, and Holly and Sam Branson also participating. Other returning investors include Reckitt venture arm Access VC, Pentland Group, Ascension Ventures, Vala Capital, and Truesight Ventures. New investors in the round include 8 Dimension Ventures, System Capital Management, and Khimji Ramdas LLC.
Oxwash’s eco-friendly laundry service caters to both businesses and individuals. Its B2B customers include hotels, hospitals, universities, hospitality, and circular fashion outlets. The company claims to be the only laundry and wet-cleaning company in the world to have gained B Corporation certification, which attests to its standards of environmental, social responsibility, and transparency. It aims to eliminate scope 1 greenhouse gas emissions from its operations within the next 12 months.
CEO Dr. Kyle Grant said that the funding will be primarily used to develop technology and invest in the complete decarbonization of Oxwash’s washing process. The startup plans to use up to 30% of the funding to expand its software technology capabilities, 30% for the deployment of its nationwide processing facility, and the remainder for business development and growth. Oxwash remains committed to responsible business practices and has built a solution that is frictionless for its business clients, enabling them to focus on other aspects of their business.
