Who is Gaurav Teotia? The company was established in 2019 and achieved a revenue of Rs 6.5 crore in the financial year 2019-2020.
Gaurav Teotia is the co-founder of Tumbledry, a company that provides laundry and dry-cleaning services. The company was established just four years ago and has expanded its operations to over 180 cities nationwide. With ambitious growth plans, Tumbledry aims to have over 600 stores in the near future. Under the leadership of CEO Teotia, who holds degrees from IIT Dhanbad and IIM Ahmedabad, the company achieved a remarkable revenue of Rs 116 crore in the last financial year.
The company was established in 2019 and generated a revenue of Rs 6.5 crore in the financial year 2019-2020. In 2021-2022, their revenue increased to Rs 24.3 crore. According to CEO Insights, the company achieved an impressive revenue of Rs 116 crore last year, indicating a remarkable growth rate of 377 percent.
Gaurav Teotia completed his B Tech in Electronics Engineering from IIT Dhanbad. He subsequently pursued an MBA from IIM Ahmedabad, which is recognized as one of India’s premier business schools. Prior to embarking on his management career, Teotia worked as a defense scientist in 2009, focusing on radar technology.
Following his MBA, Gaurav Teotia gained experience as a management trainee at Airtel. In 2016, he joined Lava, where he had the opportunity to collaborate with his co-founder Gaurav Nigam and Navin Chawla.
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Gaurav Teotia achieved a notable rank of 5th at IIM Ahmedabad. Additionally, he holds the distinction of being a triple Gold medalist at IIT Dhanbad, showcasing his exceptional academic accomplishments.
He worked at DRDO (Defense Research and Development Organization) for a period of 17 months, during which he contributed to the development of the SAR (Synthetic Aperture Radar) algorithm.
During an interview with the website, Gaurav Teotia shared the story of how the idea for a laundry business came about. He revealed that while his co-founders were traveling in South East Asia, they observed a thriving laundry market in that region. Recognizing a gap in the Indian market, where there was a lack of an organized laundry sector, they made the decision in 2018 to introduce such a company to India.
They inaugurated their inaugural store in Noida.
The company is forecasting a revenue of Rs 225 crore for the financial year 2023-2024. Additionally, they have ambitious plans to establish 500 new stores.