Chicago on-demand dry cleaning startup Dryv has been scooped up by a California competitor.
Rinse, a San Francisco-based dry cleaning startup, announced Tuesday that is has acquired Dryv, a laundry startup that was founded in 2013 and served the majority of the Chicago area.
Terms of the deal were not disclosed, but Rinse CEO Ajay Prakash said in a statement to Chicago Inno that the company acquired exclusive rights to Dryv including the domain name and customer list, and Dryv will adopt the Rinse branding.
Rinse, founded in 2013, has raised more than $23 million to date. The startup first began offering service in Chicago in 2017 after its $14 million Series B.
"Chicago is a great market and we're seeing great momentum here with demand back up to pre-Covid levels," Prakash said. "The timing couldn't have been better."
Dryv is just the latest acquisition for Rinse as the on-demand laundry space sees continued consolidation. Rinse bought OffToYou earlier this year, acquired Cleanly's San Francisco operations in 2019, and purchased Washio after the startup shut down in 2016.
In 2018, Procter & Gamble acquired Chicago-based on-demand dry cleaning service Pressbox. The deal came after P&G launched an on-demand laundry startup, called Tide Spin, inside Chicago tech incubator 1871 in 2016.
Dryv raised $450,000 from Chicago angel investors in 2014.
