Beco, a Mumbai-based eco-friendly home, kitchen and personal care products brand, has raised $10 million in a pre-Series B round. funds round.
The round was led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund, Manish Choksi (promoter of Asian Paints) and existing investors Rukam Capital and Synergy Capital.
Who are the founders?
Founded in 2019 by Aditya Ruia, Akshay Varma and Anuj Ruia, Beco claims to be a pure, eco-friendly and plastic-free company offering a wide range of home, kitchen and personal care products. Tissues, towel rolls and toiletries are some of its products.
“The inception of Beco goes back to the simple yet profound realization that as global citizens of the Earth, we need to be more responsible for our decisions and their irreversible impact on the environment,” said Aditya Ruia.
Purpose of fundraising
Beco plans to use the capital raised to drive innovation, increase production capacity and build a strong offline sales network in key geographies.
Additionally, the startup will improve its brand visibility and awareness as it prepares to scale up its operations.
“This round of funding from our existing and new investors comes at a time when we are eager to enter our next phase of growth and enhance our capabilities to meet demand,” Ruia added.
Beco’s presence in the market
Since its inception, Beco has constantly expanded its product range to bridge the gap between consumer intentions and actions regarding sustainability.
The startup claims to have established a strong presence in over 10,000 retail stores across the country, with order values matching or exceeding those of traditional brands.
Apart from retail stores, Beco sells its products on e-commerce platforms such as Amazon and fast-trade services such as Zepto, Blinkit and Swiggy Instamart. It is also present in general commerce in 20 cities and is venturing into modern commerce.
Investor comments
Sankalp Gupta, Partner at Tanglin Venture Partners, said: “In recent years, there has been a marked shift in consumer preferences towards healthier, toxin-free options. Beco’s focus on product innovation and the back-end supply chain has enabled it to offer superior products at prices comparable to traditional players. We believe this capability, coupled with its strong distribution across online and offline channels, gives Beco a strong advantage in a very large market.”
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