Indian-based Quick Smart Wash (QSW) has announced that it raised 5.15 million USD from Elan Corporation, headquartered in Matsumoto City, Japan.

QSWPL plans to expand its presence to nine states in the current financial year, expanding its processing units in Jaipur, Manipal-Udupi, Delhi NCR, Hyderabad, Bengaluru, and Jalandhar-Amritsar.

QSW plans to increase its daily processing capacity from 35 tons to nearly 55 tons this financial year, aiming to boost revenue 2.5-3 times over the next 24 months. The company also plans to launch an Inventory Management System to digitize the entire inventory management ecosystem.

Announcing the details of fundraising Rakesh Sharma, Managing Director of Quick Smart Wash Private Limited said,

“We are the first-only firm to offer a complete End-to-End Linen Management Service for hospitals in India. Elan is a pioneer and market leader in providing hospitalisation set (CS set) and I believe this partnership will help us build more capacity with deep technology sharing. It will further augment our strength in the areas of research and development especially in catching future trends and delivering high and affordable quality service to the market.”

“The pandemic has not only propelled the demand for more hygiene and robust laundry care in hospitals but has also created more awareness towards “high standard infection control”. Now, we are set for the next leg of growth and contribute to modernising the Indian Linen Management industry,” added Sharma.

Quick Smart Wash plans to secure additional capital before its IPO to expand its presence across India in the coming years. The company aims to capture a 10 percent share of the hospital linen management sector and increase its processing capabilities to 200 tons per day, equivalent to almost 600,000 pieces daily. This expansion will see QSW operating in over 15 states across the country.