Oxwash, the UK’s first sustainable on-demand laundry and wet-cleaning startup, has raised £10 million in Series A funding.
With this, the total funding raised by the company accounts for £15.7 million.
Stellar List Of Investors
The round was led by Untitled VC, an investment firm comprised of principal partners Magnus Rausing (Tetra Pak) and Bertie Crawley (ZuluForest). Twitter co-founder (backing Noh) long-time supporter Biz Stone also returned to the round with Indeed founder Paul Forster, as well as Holly and Sam Branson.
New investors in this round include 8 Dimension Ventures, System Capital Management (Ukraine’s largest venture capital fund) and Khimji Ramdas LLC. Many other existing investors have opted to invest again, including Reckitt’s venture capital arm Access VC, Pentland Group, Ascension Ventures, Vala Capital and Truesight Ventures.
Oxwash will use the funding to expand its greener, state-of-the-art washing process across the country. The funding will also be used to advance its mission to expand its national footprint before expanding into the United States. Additionally, the company will be able to build a large facility that can serve customers across the country.
Kyle Grant, CEO of Ph.D. Oxwash, said: “This new funding will be used primarily to develop our technology and invest in the full decarbonisation of our proprietary washing process. Up to 30% will be used to expand our software technology capabilities, 30% for the deployment of our national processing facilities and the remainder for business development and growth.”
Magnus Rausing, general partner at Untitled VC, said: “Oxwash is a perfect example of a company that uses advanced technology to improve products while making the world a better place. As we continue to invest in innovation and bring services to more people, here are the A great opportunity to grow and compete with the traditional laundry industry.”
Re-Engineers Washing Process
Oxwash is a startup founded in 2017 by Dr. Kyle Grant, who is a former NASA scientist and Forbes’ Europe’s 30 under 30 award winner. Tom de Wilton, an engineer from Oxford, co-founded the company alongside Dr. Grant. Oxwash announced that it was the only global certification holder of B Corporation standards; this term indicates that the company meets high standards for environmental, social, and transparency responsibility.
Oxwash aims to eliminate the environmental impact of laundry and dry cleaning processes by eliminating their carbon emissions. They accomplish this by implementing technology typically used in sterile hospital environments and space sterilization. This is done through their reengineering process, which specifically changes how washing takes place.
The next-generation ozone technology in this service removes odors and sanitizes fabrics at a lower temperature. Its biodegradable chemistry formulations achieve higher-than-medical grade disinfection.
