Oxwash raises $3m investment from Branson children and Twitter Co-Founder
Putting a sustainable spin on laundry, Oxwash, the UK-based startup backed by Twitter co-founder Biz Stone has raised $3m in seed expansion investment, to clean up the traditional and environmentally costly washing and dry cleaning sector with its space-age technology.
Raising $7m to date, the company founded in 2018 by ex-NASA scientist and Forbes’s Europe’s 30 under 30 alumni, Dr Kyle Grant and Oxford engineer Tom de Wilson, uses water-saving ozone technology to sterilize fabrics at lower temperatures, thermal and biodegradable chemical processes to achieve higher than medical-grade disinfection, dissolvable laundry bags, along with electric cargo bikes for hyper local pickups and deliveries.
Investors in the round include former Pinterest and Beyond Meat backers, Future Positive Capital (NYC/SF); Clean Ventures (NYC), Conduit-Ascension EIS Impact Fund, Holly Branson, Chief Purpose & Vision Officer Virgin Group; Sam Branson, Filmmaker, Musician & Philanthropist; Pentland Group (Berghaus and Speedo), Leon Lewis (River Island) and founder of Indeed.com, Paul Forster.
As part of the funding round, Oxwash took part in Collective Impact, a five-week investment readiness programme, delivered by Crowdcube and Virgin StartUp, the not-for-profit entrepreneurial arm of the Virgin Group, designed specifically for purpose-led businesses. This covered the essentials of getting investment ready, including legal expertise and marketing support.
The on-demand service that has re-engineered the cleaning process from the ground up by introducing technology typically used in space and hospital sterilisation, has experienced rapid growth (15% MoM) since the start of the pandemic.
Oxwash previously secured £2m from a cohort of coveted investors including: FMCG giant Reckitt, TrueSight Ventures, Founders Factory and Twitter’s Biz Stone.
With the global green cleaning market set to reach $11.6bn by 2029, Oxwash believes there is a lot to win in purging and decarbonising the unsustainable and toxic laundry industry.
Oxwash’s state of the art washing technology, cleaning methods and door-to-door laundry service are driving towards net zero carbon emissions, significantly reducing the environmental impact of existing laundry processes.
All riders (couriers) are fully employed and like the rest of the team are paid in excess of the national living wage.
The responsible laundry firm now has more than 8000 individual customers, alongside clients such as the Marriott Hotel Group, Hurr Collective and the NHS.
The new capital will be used to expand the team and invest in proprietary technology that will power the business’s logistics and cutting edge washing facilities, known as lagoons, to further improve services both for consumers and the environment.
Through investing in resources and expertise, Dr Grant is confident that this will accelerate plans for national expansion.
Holly Branson said: “When I met Kyle and Tom, the founders of Oxwash, I knew immediately they were the type of purposeful leaders I love to work with; their passion, drive and enthusiasm for sustainable laundry was infectious. Through the Collective Impact programme I get to meet the most inspiring founders and am constantly blown away by their innovative, creative and commercial approach to sustainable business. Oxwash will turn the traditional laundry sector on its head, proving yet again that purposeful business is great business.”
“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.” added Paul Forster founder of Indeed.com.
Dr Kyle Grant, chief executive, of Oxwash said “We knew being just another laundry app wouldn’t cut it. Developing a model that was hyper local, carbon neutral and tech enabled – that reversed the sector’s adverse impact on the planet rather than adding to it was fundamental.
“Partnering with the likes of Reckitt and Founders Factory have given us access to some of the best minds in business which has undoubtedly been a leg-up for the business.
“Our team is not only developing chemistry that works at 20˚C better than at 40˚C or higher, but we are also integrating water reclamation and reduction technology into our process so that we can save up to 60% of the water consumption versus you washing at home or any other typical commercial washing.
“There is a growing awareness and appetite for green cleaning products – and we’re confident that Oxwash can clean up and deliver substantial returns.”
“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.