LG Electronics Invests in Korean Laundry Tech Startup

SEOUL, South Korea — LifeGoesOn, operator of the mobile laundry service Laundrygo, received KRW 10 billion (US$6.98 million) in investment from LG Electronics, the company announced Monday.

LifeGoesOn stated that the investment will support collaboration on global expansion of mobile and unmanned laundry technology, as well as the construction of smart factories to process large volumes of laundry.

The companies indicated they will cooperate on technology development, utilizing customer data from appliances and services.

The companies will also collaborate on expanding LG Electronics' commercial appliance product lineup, according to LifeGoesOn.

LG Electronics' washer-dryer combination units will be installed at LifeGoesOn's smart factories and unmanned laundromats.

LifeGoesOn operates the Laundrygo mobile laundry service, which it said is the largest in South Korea by revenue.

The company operates 176 unmanned smart laundromats under the Laundry24 brand and provides Laundrygo Hotel & Business services for commercial clients.

The company stated it plans to use the investment to enter the Japanese market.

LifeGoesOn has raised more than KRW 100 billion (US$69.8 million) from investors, including Altos Ventures, according to the company.

The company launched Laundrygo in 2019. Revenue was KRW 1.6 billion (US$1.12 million) in 2019 and increased to KRW 55.7 billion (US$38.9 million) in 2024.

LifeGoesOn stated it expects profitability to improve by more than KRW 10 billion (US$6.98 million) this year.