Lynens Secures Pre-Series A Investment for Innovative Laundry Services
Reading Time: < 1 minuteLynens, a South Korean company offering laundry and rental services tailored for accommodation providers, has secured pre-Series A investment from Big Basin Capital and BonAngels Venture Partners.
Founded in April 2023 by CEO Choi Kyung-joo, formerly the head of the B2B business division at Laundrygo, a mobile laundry service in Korea, Lynens collaborates with industry experts in the field of industrial laundry. The company prides itself on the motto of “excellent operations.” Lynens opened its first factory just three months after its establishment in July of the previous year and has rapidly expanded, unveiling a second factory in January.
With the recently acquired funds, Lynens aims to invest in expanding its laundry production facilities and revolutionizing service quality. The company plans to open its third factory in Gimpo in March, with the capacity to process 3,000 tons of laundry annually. Concurrently, Lynens is actively pursuing mergers and acquisitions of promising companies in the same industry.
Big Basin Capital, the lead investor, remarked, “The domestic B2B laundry market, traditionally characterized by numerous small and fragmented businesses, has undergone significant changes post-COVID-19. Leveraging their in-depth understanding and expertise in the laundry industry, the Lynens team is well-positioned to provide specialized high-quality services to B2B clients, anticipating swift market dominance.”
Choi Kyung-joo, CEO of Lynens, stated, “We are committed to delivering more reliable services to our clients by concurrently focusing on quality innovation and expanding production facilities.”
- ‘RADICURE’ Secures pre-Series A funding for Innovative Digital X-ray Dementia Treatment
- OVERTHEHAND, VTuber Platform Company, Raises 3 Billion KRW in SeriesA Funding
- ‘spaceAdd’ Named Pre-ICON Company by Korea Credit Guarantee Fund
- Dreampac Secures Funding to Develop PIPAC for Treating Peritoneal Carcinomatosis
- ‘Habitus Associates’ Secures Seed Funding to Enhance Art Platform “Artue”
- South Korean Game Developer GPUN Raises Funds for ‘Project Terrarium’
- Liberty Labs Secures Investment to Drive AI-Powered Manufacturing in SMEs
- NXN Labs Secures Early Investment for Pioneering AI Image Generation Technology
- 42Maru Secures Strategic Investment from Naver Cloud to Enhance Hyper-Scale AI Collaboration
- Datarize Raises 15 Billion KRW in SeriesB Funding for CRM Marketing Services