LG Electronics said Friday it has made a Series A investment in laundry startup Washlava.
Series A refers to the first stage of fundraising for a startup after its foundation, as it gears up for full-fledged business operations.
Washlava’s mobile platform enables remote reservations and payment for the use of LG Electronics’ washers and dryers at university campuses in the US. (LG Electronics)
Established in 2017, Washlava is based in Tampa, Florida. It provides a mobile platform for reservations, services and payment for the use of washing machines and dryers at dormitories, hotels and laundromats.
LG Electronics has participated in the Series A round of investment for Washlava since July.
Washlava is expanding its business by providing its mobile platform for LG Electronics’ washers and dryers at major university campuses in the US.
The startup has also forged a partnership with CBORD, a firm specializing in security and payment in the education field. Students can now make payments using student identification cards with a CBORD solution and a debit or a credit card when reserving and using washing machines in dormitories.
An LG Electronics official said Washlava’s platform will serve as a next-generation solution for premium appliances.
By Lim Jeong-yeo (email@example.com