Mumbai-based home and personal care D2C brand Beco has raised $3 million in a Series A funding round led by Rukum Capital, along with the participation from Priyavrata Mafatlal, Better Capital, Prashant Pittie, and Titan Capital.
Other investors — Bimal Parekh, Sweta Amrish Rau, Arjun Purkayastha, Harish Narayanan, Rehan Shaikh, Shantanu Deshpande, Kolte-Patil Family Ventures, Gaurav Arora, Avinash Badaia, and Exceed Entertainment, also participated in the round.
Launched in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco said it aims to make sustainable living convenient by providing easily accessible and affordable products for Indian consumers.
With this round of funding, the startup will focus on hiring talent across verticals to boost growth, its R&D (product innovation, development in sustainability) efforts, marketing, and supply chain functions.
“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 Aditya Ruia.
Additionally, The startup will be widening its product range to include a new set of cleaner products and an all-new personal hygiene care category which will include products such as multipurpose spray, bathroom cleaner, and laundry detergent sheets.
Speaking on the investment, Archana Jahagirdar, Managing Partner at Rukam Capital, said, “Beco’s aim is to disrupt the market with its competitive pricing and consistent 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.”
Source @Indianstartupnews
