Laundry Delivery Startup Rinse Raises $23 Million Funding Round From Appliance-Maker LG
Rinse co-founder and CEO Ajay Prakash details how his company went from bootstrapped beginnings to attracting one of the biggest brand names in laundry.
BY ALI DONALDSON, STAFF REPORTER @ALICDONALDSON
Ajay Prakash, Rinse co-founder and CEO, and James Joun, Rinse co-founder and COO.
Laundry isn’t exactly a new business. This is a multi-generational, $40-billion industry. But back in 2013, two Dartmouth friends decided to introduce some innovation into the old-school sector and turn the household chore into a tech-enabled service. Ajay Prakash and James Joun wanted to make the weekly task of sorting, stain treating, and folding clothes a bit easier by launching the Uber of laundry, and they had a unique combined résumé to do it. Prakash had experience working at startups, while Joun had grown up in the laundry industry. His parents spent more than 25 years........
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