Beco, a Mumbai-based brand focused on eco-friendly home, kitchen, and personal care products, has successfully raised $10 million in a pre-Series B funding round. The funding was led by Tanglin Venture Partners and included contributions from Titan Capital Winners Fund, Manish Choksi (promoter of Asian Paints), and existing investors Rukam Capital and Synergy Capital. This fresh infusion of capital is set to propel Beco into its next phase of growth and expansion.
Founders and Vision of Beco
Beco was founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia with a mission to offer eco-friendly and zero-plastic products for everyday use. The brand’s offerings include a wide range of products such as tissues, towel rolls, and toiletries, all designed with sustainability in mind. According to co-founder Aditya Ruia, Beco was born out of the realization that everyone needs to be more responsible for their choices and the lasting impact these choices have on the environment.
Ruia explained, “Beco’s inception ties back to the simple yet profound realization that as global citizens of the earth, we need to be more accountable for our choices and their irreversible impact on the environment.”
Purpose of the Fundraising
The newly raised $10 million will be used by Beco to drive innovation, scale up production, and build a stronger offline sales network in key markets. The startup also plans to increase brand visibility and awareness as it gears up for a significant expansion in operations. The funding comes at a crucial time when Beco is preparing to enter its next phase of growth, focusing on enhancing its capabilities to meet increasing consumer demand.
“This round of funding from our existing and new investors comes at a time where we are raring to enter our next phase of growth and enhance our capabilities to meet the demand,” Ruia added.
Market Presence and Growth
Since its launch, Beco has expanded its product line to help consumers make more sustainable choices in their daily lives. The company has established a strong presence in over 10,000 retail stores across India, with order values that match or even surpass those of traditional brands. In addition to its retail presence, Beco’s products are available on popular e-commerce platforms like Amazon, as well as quick commerce services such as Zepto, Blinkit, and Swiggy Instamart. The brand is also making significant inroads into general and modern trade across 20 cities.
Investor Insights on Success
Sankalp Gupta, a partner at Tanglin Venture Partners, commented on the growing consumer shift towards healthier, toxin-free products. He praised Beco’s focus on product innovation and its efficient supply chain, which allows the brand to offer superior products at competitive prices.
“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 headstart in a very large market,” Gupta said.
Forward Path of Beco
With this new funding, Beco is well-positioned to continue its growth and expand its reach in the market. The brand’s commitment to sustainability and innovation is set to resonate with an increasing number of consumers looking for eco-friendly alternatives in their daily lives.
