Homegrown eco-friendly home, kitchen & personal care brand Beco has raised $10 million as part of its pre-Series B round fundraise, led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund.
Manish Choksi, promoter of Asian Paints as well as existing investors Rukam Capital and Synergy Capital also participated in the funding mop-up that came nearly two years after the Series A funding round.
The fund infusion would be put towards innovation and expanding production capacity; developing a strong offline sales infrastructure in key geographies and lastly, towards brand building and enhancing brand awareness, the company said in a release.
“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 Aditya Ruia, co-founder of Beco.
Founded in 2019 by Aditya, Anuj Ruia and Akshay Varma, the Mumbai-based startup retails 100% natural and plastic, chemical-free consumer goods in the kitchen, home and personal care space. It had previously raised $3 million in a funding round led by Rukam Capital.
It claims to have achieved a 3x growth in the last year, driven significantly by repeat purchases across all channels. Recently, it re-launched its household cleaners portfolio with a new mix, achieving wins on key parameters, with the cleaner’s portfolio now contributing significantly to the topline.
Beco retails its products on Amazon, Zepto, Blinkit, Swiggy Instamart, and D-Mart Ready. It is available in general trade across 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter. It claims to have a presence across 10,000 retail stores.
“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,” said Sankalp Gupta, partner, Tanglin Venture Partners.
