The round also saw participation from existing investors like Snapdeal founders-led Titan Capital Winners Fund, Rukam Capital and Synergy Capital, along with Asian Paints’ promoter Manish Choksi.
The company will use the fresh capital to innovate and expand its production capacity. Besides, it will be used to develop infrastructure in key geographies, brand building and awareness
Founded in 2019 by Aditya Ruia, Akshay Varma and Anuj Ruia, Beco is a Mumbai-based sustainable kitchen, home and personal care brand
Sustainable D2C brand Beco has raised $10 Mn ( INR around INR 83 Cr) in its Series B funding round led by Tanglin Venture Partners.
The round also saw participation from existing investors like Snapdeal founders-led Titan Capital Winners Fund, Rukam Capital and Synergy Capital, along with Asian Paints’ promoter Manish Choksi.
The company will use the fresh capital to innovate and expand its production capacity. Besides, it will be used to develop infrastructure in key geographies, brand building and awareness.
With this, Beco has raised $13.5 Mn in total funding to date.
“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,” said Beco’s cofounder Aditya Ruia.
Tanglin Venture Partners’ partner Sankalp Gupta said, “ 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.”
Founded in 2019 by Aditya Ruia, Akshay Varma and Anuj Ruia, Beco is a Mumbai-based sustainable kitchen, home and personal care brand. It sells a wide range of products including tissue rolls, bamboo facial tissues, dishwashing liquid, toothbrushes, and biodegradable garbage bags, among others.
The startup claims to have achieved a 3X growth in the last year on the back of repeat purchases across all channels.
This funding comes two years after the company raised $3 Mn in its Series A funding round led by Rukam Capital along with Priyavrata Mafatlal, Better Capital, Prashant Pittie and Titan Capital. In 2021, it secured INR 4 Cr in seed funding round from Climate Angels Fund, Titan Capital, Better Capital, Rukam Capital, Sequoia Sprout, and Zivame founder Richa Kar.
This comes at a time when India’s D2C market is gaining a lot of traction from investors.
The market is set to reach a size of $100 Bn by 2025. Moreover, the consumers, post covid and rising sensitivity towards nature have imbibed sustainability in their product choices.
India has the world’s third-largest online shopping base in the world. Among the D2C offerings, fashion and clothing startups have the highest potential and are expected to grow to $43.2 Bn by 2025, according to an Inc42 report.
