Oxford-based greentech startup, Oxwash, which revolutionises the laundry industry is backed by Twitter co-founder Biz Stone. Now, the company has raised £500K in equity investment round through a public crowdfunder in 15 hours.
Eyes to add electric vans to fleet
Oxwash has secured £250K from angel investors including Magnus Rausing (Tetra Pak), Kal Patel (ex-CEO of Best Buy) and Vala Capital. The other £250K came from 318 public Crowdcube investors. Notably, this round follows the £2.08 million investment it raised in June this year and £4.3 million from a group of A-list investors.
The new funds will be used to expand the service geographically by adding more 100 percent electric vans to the fleet. Also, Oxwash will engineer best-in-class software and technology that will facilitate to reach its net-zero goals, and further enhance fulfilment processes linked to the growing circular fashion economy.
Dr Kyle Grant, chief executive, said “Our goal was to build a wide network of shareholders who care about our purpose as much as we do and can be true ambassadors for the brand, which is why we capped the investment level at £5,000 per person. To witness £100k pledged in just three hours, and be able to close the round in fifteen, we’re over the moon with the outcome and level of support.”
Paul Forster founder of Indeed.com invested in the sustainable laundry service because he believes that “Oxwash is one of the most exciting businesses I’ve come across. I love the focus on sustainability, and it’s a scalable model so I’m expecting it to grow into a really big business.”
“Our world is in unknown territory and people are turning to tech for options to improve their lives. Oxwash is using revolutionary technology that can be utilised to prevent viral transmission on textiles during this period and give people reassurance about their safety and those of their loved ones.” added investor and co-founder of Twitter, Biz Stone.
Intends to achieve net zero emissions
The on-demand laundry service works with the intention to achieve net-zero carbon emissions for the whole process from collection, through washing, back to delivery. The traditional and environmentally costly washing and dry cleaning sector has been revolutionised with Oxwash’s water-saving ozone technology to sanitise fabrics at low temperatures achieving higher than medical-grade disinfection; biodegradable detergents. Furthermore, the electric cargo bikes ensure a sustainable washing and hyper-local zero-emission logistics footprint.
Oxwash’s state-of-the-art washing technology, cleaning methods and door-to-door service are driving towards net zero carbon emissions, significantly reducing the environmental impact of existing laundry and dry cleaning processes.
While the global laundry usage releases 14,000 tons of microfibers into the oceans each year, Oxwash deploys microfiber filtration technology to remove more than 95 percent of fibres shed during washing, preventing plastic pollution from reaching waterways and drinking water.
Founded by former NASA-scientist and Forbe’s Europe’s 30 under 30 alumni, Dr Kyle Grant, Oxwash re-engineers the cleaning process from the ground up. It is touted to be the UK’s first sustainable on-demand laundry service to have grown more than tenfold since the outbreak of the pandemic.
In April 2021, Reckitt announced a new strategic partnership between its heritage clothes care brand Vanish and the space-age laundry service. As a result, Oxwash uses the new Vanish sustainable formula – Vanish 0% – in its cutting edge washing facilities, also known as lagoons, to help give old clothes a new lease of life, preventing tonnes of clothes from ending up in the landfill.
Charlotte Schofield, Venture Partnership Manager at Reckitt said “Together, we are helping Oxwash scale their solution to reach more consumers, and reduce the impact that laundry has on our environment.”
The responsible laundry firm now has more than 8000 individual customers, alongside clients such as the Marriott Hotel Group, Hurr Collective and the NHS.