eziPOD targets to raise RM1.25 mln, to diversify into e-commerce

KUALA LUMPUR, Nov 28 (Bernama) -- eziPOD, Malaysia’s first smart laundry locker startup, targets to raise RM1.25 million through the equity crowdfunding platform, pitchIN, to diversify into the lucrative e-commerce sector by providing last-mile fulfilment logistics.

In a statement, eziPOD co-founder Venon Tian said the startup had already raised the minimum target of RM500,000 within a few days of going live on the crowdfunding platform, which would end on Dec 15.

“The funds raised will help fuel our growth plans to be the largest laundry and multipurpose smart locker in Malaysia,” he said.

eziPOD, launched in November 2017, is a 24/7 laundry locker service that is currently available in 25 locations in Klang Valley which allow users to drop off and pick up their laundry without the need of human interaction.

Tian said eziPOD now aimed to go beyond this by utilising the smart lockers for parcel delivery and personal storage to complement its existing laundry services, therefore, further expanding its revenue stream.

“With the rapid growth of e-commerce in Malaysia and over one million parcels delivered daily, eziPOD is poised to improve delivery time and reduce cost substantially for last-mile fulfilment logistics, as consumers can pick up their parcels on time from the lockers and avoid missed deliveries,” he added.

On its laundry locker service, he said eziPOD had processed over 6,000 garments and over 1,000 orders since its launch, which saw month-on-month revenue increasing steadily around 25 per cent.

-- BERNAMA