SEOUL, Nov. 1 (Korea Bizwire) — South Korea’s LG Electronics Inc. said Friday it recently purchased a stake in U.S. laundry startup Washlava and supplied it with washing machines and dryers.
LG Electronics, however, didn’t disclose the level of its interest in the Tampa-based company, which operates smartphone-exclusive laundromats, or the amount invested.
The electronics giant also did not reveal how many washers and dryers have been supplied to Washlava.
LG Electronics has been participating in a Series A-1 equity financing round for Washlava, which was launched in 2017.
Washlava operates smartphone-exclusive laundromats at major universities across the United States. The app technology, used to reserve and pay for cleaning, is available in dorms, multifamily housing units and Marriott Hotels.
An LG executive said the company will make preparations for a next-generation laundry solution by combining LG’s apparel management products with Washlava’s laundry platform.