Mumbai-based home and personal care D2C brand,on Wednesday raised Rs 4 crore in a seed round led by Climate Angels Fund and other investors, including Titan Capital, Better Capital, Rukam Capital, Sequoia Sprout, and Richa Kar (Founder of Zivame).
According to the official statement, Beco will use the fresh capital to quadruple its sales and encourage consumers to switch to sustainable living through its eco-friendly product range.
Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a 100 percent eco-friendly and zero plastic startup. In the last four years, it has grown into a community of over one lakh members, helping reduce 25 percent of plastic from their daily routine.
Speaking on the funding, Aditya Ruia, Co-founder, Beco, said,
“Our ultimate aim is to help every individual contribute towards saving the environment, and to do so, we need to expand our distribution and customer touchpoints across cities. We are thankful to our investors, who are helping us to strengthen Beco’s positioning by encouraging us to continue to create eco-friendly alternatives to reduce the impact on our environment.”
By adopting a sustainable production and packaging model, Beco has saved over 500 tonnes of plastic waste that could have been generated through the production and sales of the products.
Akshay Varma, Co-founder, Beco, said, “Our goal is to provide affordable sustainable products for daily use and break the notion that eco-friendly products are expensive. Through this funding, we would be able to optimally invest in product development, distribution, and operations and take Beco to every household.”
Commenting on the investment, Sumeet Singh, Managing Partner, Climate Angels Fund said, “Pollution and climate change is a trillion-dollar opportunity, not because of righteousness, but because of cheaper, effective, and sustainable solutions that will replace existing solutions. The founders at Beco are disrupting a $12 billion Indian market of home and kitchen consumable products. And they have exhibited offshoots and growth metrics of a strong D2C brand. Beco is the first D2C deal closure of our Rs 1 billion Climate Angels Fund.”
“Working with brands that know what they are going to stand for and how they are going to do it is always a delight. Beco combines this beautifully with sustainability... What Beco does is for us all to put it into everyday practice to ensure it is no longer a trend but a better and more efficient way of life. Aditya, Akshay, and Anuj have demonstrated how to drive small yet meaningful planet conscious behaviour, and I am inspired to make our commitment to the future with them,” added Richa Kar, Founder, Zivame.
Edited by Suman Singh