Summary:

  • Beco’s founders, Aditya Ruia, Akshay Varma, and Anuj Ruia, established the brand in 2019.

  • This round was was spearheaded by Tanglin Venture Partners

  • The funds raised in this pre-Series B round are earmarked for several strategic initiatives that Beco believes will propel the brand to new heights

Beco, a Mumbai-based eco-friendly brand specializing in home, kitchen, and personal care products, has successfully raised $10 million in a pre-Series B funding round. This latest investment round was spearheaded by Tanglin Venture Partners, and contributions were made from Titan Capital Winners Fund, Manish Choksi (promoter of Asian Paints), and existing investors Rukam Capital and Synergy Capital.

This substantial injection of capital follows an earlier Series A round in December 2022, where Beco secured $3 million, also led by Rukam Capital and others. The Series A round was reported exclusively by Entrackr in August 2022, highlighting the growing interest in Beco’s mission and potential within the eco-friendly market space.

Beco’s founders, Aditya Ruia, Akshay Varma, and Anuj Ruia, established the brand in 2019 with a clear vision: to offer a pure, eco-friendly, and zero-plastic alternative to conventional home and personal care products. The company’s product range includes a variety of items such as tissues, towel rolls, and toiletries, all designed with sustainability in mind. Their commitment to the environment is evident in their products, which aim to reduce plastic waste and promote eco-conscious living.

The funds raised in this pre-Series B round are earmarked for several strategic initiatives that Beco believes will propel the brand to new heights. A significant portion of the investment will go towards innovation, particularly in enhancing and expanding their production capabilities. As the demand for eco-friendly products continues to rise, increasing production capacity will be crucial in meeting consumer needs and maintaining the brand’s growth trajectory.

Another key area of focus for Beco is the development of a robust offline sales infrastructure in key geographies. While the brand has seen substantial success in the online marketplace, the founders recognize the importance of a strong offline presence to reach a broader audience. By establishing a more extensive distribution network and partnering with retailers across various regions, Beco aims to make its products more accessible to consumers who prefer shopping in physical stores.

Brand building and enhancing brand awareness are also top priorities for Beco as it continues to expand. The company’s leadership team understands that in a competitive market, standing out and conveying the brand’s unique value proposition is essential. Therefore, part of the new funding will be allocated to marketing efforts designed to strengthen Beco’s brand identity and increase consumer awareness of its eco-friendly offerings.

Since its inception, Beco has experienced impressive growth, achieving a remarkable 3x increase in revenue over the past year. This growth is reflected in the brand’s expanding presence across multiple retail platforms. Currently, Beco’s products are available in 10,000 retail stores, a significant achievement that underscores the brand’s rapid expansion and the growing consumer demand for sustainable products. In terms of order values, Beco claims to be on par with, if not surpassing, established legacy brands, further demonstrating the company’s competitive edge in the market.

Beco’s success is not limited to traditional retail channels. The brand has also carved out a strong presence in the digital realm, particularly on e-commerce and quick commerce platforms. Consumers can easily access Beco’s eco-friendly products through popular online platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. Moreover, Beco has made inroads into general trade across 20 cities and has recently entered the modern trade segment. The company has ambitious plans to expand its presence to other major players in the modern trade space by the end of the current quarter.

In just five years, Beco has emerged as a formidable player in the eco-friendly product market, consistently delivering on its promise of sustainability without compromising on quality or convenience. With the recent infusion of capital and a clear roadmap for growth, Beco is well-positioned to continue its upward trajectory, making sustainable living accessible to an ever-growing number of consumers.