Eco-Friendly Startup Beco Raises USD 10 Mn to Scale Up Operations and Market Reach The Mumbai-based brand aims to deploy the raised capital towards capacity building and innovation, strengthening offline sales infrastructure, and enhancing brand awareness.
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Beco, a Mumbai-based eco-friendly brand specialising in home, kitchen, and personal care products, has raised USD 10 million in its pre-Series B funding round led by Tanglin Venture Partners. The round also saw participation from Titan Capital Winners Fund, Manish Choksi, promoter of Asian paints, existing investor Rukam Capital, and Synergy Capital.
This latest funding follows a USD 3 million Series A round completed in December 2022, led by Rukam Capital.
The new capital will be allocated to several strategic areas: boosting innovation and production capacity, developing an extensive offline sales infrastructure, and enhancing brand awareness.
Aditya Ruia, Co-founder of Beco, said, "This round of funding from our existing and new investors comes at a time when we are raring to enter our next phase of growth and enhance our capabilities to meet the demand. The investors' faith in Beco boosts our confidence that we are headed in the right direction, and we are excited to unleash the real potential that sustainability and harmful chemical-free products hold for the future."
Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a pure eco-friendly and zero-plastic company that offers a product range spanning home, kitchen, and personal care items, including napkins, toilet paper, facial tissues, and tissue rolls.
Beco distinguishes itself through its use of biodegradable and compostable materials such as cornstarch and bamboo. Notable products include toilet rolls, garbage bags, toothbrushes, and a coconut enzyme-based formula used in its liquid cleaners.
Sankalp Gupta, Partner at Tanglin Venture Partners, added, "Over the last few years, there has been a marked shift in consumer preferences towards healthier, toxin-free options. Beco's focus on product innovation and backend supply chain has enabled them to offer superior products at prices comparable to the incumbents."
"We believe this ability, coupled with their strong distribution across offline and online channels, provides Beco a strong head start in a very large market. We have no doubt that this company will continue to be at the forefront of innovation in this sector, and we are excited to be a part of this journey," Gupta added.
Recently, Beco relaunched its household cleaner portfolio with an entirely new mix. The brand now claims to have a presence in 10,000 retail stores.
The company has established a presence across e-commerce and quick commerce platforms, including Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It also operates in general trade across 20 cities and is expanding into modern trade, aiming to partner with major players by the end of the quarter.
Beco maintains an active direct-to-consumer model to drive trials and has attracted interest from major multinationals such as Amazon, ICICI, Mahindra, PVR Inox, and TAJ for collaborations on sustainability initiatives.
