Online laundry services marketplace DoorMint has shut down operations, less than 2 years after setting up the company.
In an email to DoorMint community, DoorMint Co-founder and Chief Executive Abhinav Agarwal wrote, “A truly scalable and profitable business model in laundry as an online-enabled business for mass consumption eluded us till the end. The costs of processing clothes, pick up and drop logistics and packaging made it difficult to recover through prices…As of 19 September, DoorMint will not be accepting any new orders. All the orders in the system will be processed.”
Launched in September 2014, by IIT alumni Abhinav Agarwal, Naman Lahoty, and Piyush Ranjan, the company began as an on-demand electrician, plumber, carpenter and electronics appliance repair provider, but later moved to laundry and related services. It had last year secured $3 million in Series A funding from Helion Venture Partners and Kalaari Capital, and also seed funding from Powai Lake Ventures.
