Beco, an eco-friendly direct-to-consumer business, has raised $3 million in a Series A fundraising round that was led by Rukum Capital and included Priyavrata Mafatlal, Better Capital, Prashant Pittie, and Titan Capital.
Additionally taking part in the funding round were Bimal Parekh, Sweta Amrish Rau, Arjun Purkayastha, Harish Narayanan, Rehan Shaikh, Shantanu Deshpande, Kolte-Patil Family Ventures, Gaurav Arora, Avinash Badaia, and Exceed Entertainment.
The money raised will be used by Beco for supply chain operations, marketing, and research and development tasks. The money will also be used to hire top people from various industries.
Beco was founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia. The sustainable cooking, home, and personal care brand is established in Mumbai. It offers a huge selection of goods, including biodegradable trash bags, and dishwashing liquid, etc. It asserts that every one of its goods is combustible and biodegradable.
“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,” Aditya Ruia, co-founder, Beco, said.
Beco announced numerous product and category launches in addition to a five-fold increase in sales over the previous fiscal year. Three new products, including dishwashing, floor, and laundry liquids, are part of the most recent introductions in the category of natural liquid cleaners.
“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 per cent premium. The growth they have witnessed in the last year has been promising, reflective of strong affinity and love for the brand,” said Archana Jahagirdar, managing partner, Rukum Capital.
For the past few years, they have been a company with strong beliefs about the rights of people and the planet. They believe that a company’s values are as important as the products it makes.