Mumbai-based direct-to-consumer (D2C) startup Beco India on Monday said it has secured Series A funding of $3 million (around Rs 22.5 crore) led by Rukam Capital.
The round also saw participation from Priyavrata Mafatlal, Better Capital, Prashant Pittie and Titan Capital.
Beco plans to use the fresh funds for product innovation, ramping up marketing and supply chain functions as well as to onboard more talents across all verticals.
Founded by Aditya Ruia, Akshay Varma, and Anuj Ruia in 2019, Beco is firm that develops and manufactures 100% natural and plastic, chemical free consumer goods in the kitchen, home and personal care space. It aims to expand into 10,000 offline retail stores across the country.
“The initial idea for Beco came from the realisation that every piece of plastic disposed of will last for decades, and find its way back to us in some form, causing immeasurable harm. In light of the increasing threat of environmental degradation, it is our goal to ensure that sustainable living is part of every Indian household, and we believe that reducing the barriers to its adoption can be achieved by making it more accessible and affordable,” said Ruia.
“Beco’s aim is to disrupt the market with its pricing and emphasis on quality, efficacy and affordability, in an environment where natural and sustainable products are otherwise being sold at a 100% premium. The growth they have witnessed in the last year has been promising, reflective of strong affinity and love for the brand. Beco is driven with a clear sense of purpose, and have effectively demonstrated that a toxic-free and eco-conscious way of life is not just trendy, but more efficient as well,” said Archana Jahagirdar, managing partner, Rukam Capital.
Rukam Capital, set up in 2019, focuses on early stage consumer products and services companies. Some of the sectors it serves include food and beverages, beauty and personal care, health and nutrition, and fashion.
Companies in its portfolio include Sleepy Owl, Burger Singh, Orange Retail Finance, beverages maker Svami and spices and snacks maker Go Desi.