BigBasket’s Abhinay Choudhari outlets; Focus on starting the laundry
After Tata Acquisition of BigBasket Grocery Delivery Platform, Co-Founder Abhinay Choudhari Ready to Launch Laundry Startup
Choudhari invested in the company in 2016 and ran a pilot project in Bangalore
India’s laundry market is expected to reach $ 15 billion by 2025, up from $ 11.3 billion in 2019, according to RedSeer report
Abhinay Choudhari, co-founder of the online grocery platform BigBasket, has reportedly left the company. In his next entrepreneurial journey, he will focus on a startup in the laundry segment.
Choudhari co-founded BigBasket in 2011 with Hari Menon, Vipul Parekh, V Ramesh and VS Sudhakar. He leaves the company after Tata Digital Limited, a wholly-owned subsidiary of Tata Sons Private Limited, acquired a majority stake in Supermarket Grocery Supplies Private Limited (BigBasket) in May.
Following the deal, Choudhari decided he would not continue to be a part of the management team, said a report by Business Standard.
“After nine years, the start-up itch has grown in me and I want to start a new business from scratch,” he reportedly wrote to BigBasket employees in his farewell email.
Choudhari, along with Raghavendra Joshi, Tripat Preet Singh (founder of Charmboard), Uday Vijayan, SM Abbas and P Singh, has entered the online laundry segment as a low-power pilot in the past five years. . mention the name of the startup.
Right now, the founders are reportedly in the process of setting up India’s largest laundromat with a capacity to process 45,000 clothes per day, he said.
India’s laundry market is expected to reach $ 15 billion by 2025, up from $ 11.3 billion in 2019, according to the latest India Laundry Services Market report released by local consultancy RedSeer.
“One of the reasons several laundry startups went out of business was because they focused on an asset and app-based aggregator model, as they were primarily influenced by Uber and Airbnb. But the backend has remained the same and fragmented, ”said Choudhari.
While the initial setup is underway, the founders have already invested total seed capital of $ 2 million and are in advanced talks with investors to raise $ 25-30 million in Series A funding.
The startup is working on a heavy asset model where it controls the entire end-to-end process, which he said will help reign over the unity economy and allow for a delay of 24 hour fast turnaround. It builds a star-shaped laundry service model for the 30 cities, with 15 to 20 centers in each city, supported by two to four state-of-the-art service centers. The four centers are expected to employ between 800 and 1,000 people per city, while each hub will have between 100 and 125 employees. The startup is expected to start operations from Bengaluru with a team of 300 people
According to a recent study by Redseer, out of a total laundry market in India of $ 12 billion in 2019, $ 10 billion was B2C (business-to-consumer), and 80% of that spending is spent on washing at home. residence.
“We have the opportunity to disrupt the way Indian households do their laundry today and become a market leader in no time. The market is currently very fragmented and largely unorganized and lacks a national player. From a recent consumer survey in 30 cities, we learned that consumers are looking for affordable, convenient and reliable services with a fast 24 hour turnaround time, ”said Uday Vijayan, Co-Founder and Chief Marketing Officer of the company.
Indian startups already targeting this laundry segment include A Clean, PickMyLaundry , Pressto and LaundryAnna.