Mobile laundry service ‘Laundrygo‘ operator, Lifegoeson, announced that it has attracted an investment of USD 7.4 million (KRW 10 billion) from LG Electronics.

Lifegoeson launched the non-face-to-face mobile laundry service ‘Laundrygo’ in 2019, operating 176 unmanned smart laundromats ‘Laundry24‘ and ‘Laundrygo Hotel & Business‘ which provides hotel laundry services. The company has attracted over USD 74 million (KRW 100 billion) in investments from leading domestic and international investors, including Altos Ventures.

By securing new investment from LG Electronics, a global leader in home appliances, Lifegoeson has once again demonstrated its competitiveness and growth potential as a comprehensive laundry tech company. This investment was made based on the judgment that cooperation between future home appliances and services is essential to strengthen differentiated competitiveness in the rapidly changing domestic and international home appliance and laundry markets.

The two companies plan to solidify their laundry tech cooperation system in areas such as global market expansion of mobile and unmanned laundry technology, and the establishment of smart factories (EPC) for large-capacity laundry processing. They also intend to collaborate on future technology development based on various customer insights and data generated from home appliances and services.

Furthermore, LG Electronics’ recently launched integrated washer and dryer products will be fully adopted at Laundrygo’s smart factories and Laundry24 unmanned laundromats. The companies also agreed to cooperate in expanding LG Electronics’ commercial appliance products and improving customer experience in the future.

Based on LG Electronics’ investment, Lifegoeson aims to actively utilize the global market know-how and network of the large corporation to make successful overseas ventures, starting with its full-fledged entry into the Japanese market.

Sung-woo Cho, CEO of Lifegoeson, stated, “It is very significant that a large corporation with global top-tier competitiveness and a startup are jointly opening up a vision for the global market through various collaborations for future market pioneering. We expect this investment to be an excellent example of a virtuous cycle model of investment and growth between large corporations and startups.”

Lifegoeson’s sales grew more than 30 times in five years, from USD 1.2 million (KRW 1.6 billion) in 2019 to USD 41.3 million (KRW 55.7 billion) in 2024. This year, the company expects to continue its growth across all business units, with profitability significantly improving by over USD 7.4 million (KRW 10 billion).