Home, kitchen & personal care brand on Tuesday has raised $10 million as part of its pre-Series B funding round. The round was led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund. The company also saw participation from Manish Choksi, promoter of Asian Paints, existing investor Rukam Capital and Synergy Capital.
The fresh capital will be utilised towards innovation and expanding production capacity; developing a strong offline sales infrastructure in key geographies, and for brand building and enhancing brand awareness.
This development comes two years after its Series A round of $ 3 million led by Rukam Capital.
“Beco’s inception ties back to the simple yet profound realisation that as global citizens of the earth, we need to be more accountable for our choices and their irreversible impact on the environment. What Beco realised from day 1 is that it is not for a lack of intent, but a lack of viable choices that sustainable alternatives often get overlooked,” said Aditya Ruia, Co-founder, Beco.
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. The investors’ faith in Beco boosts our confidence that we are headed in the right direction and we are excited to unleash the real potential that sustainability and harmful chemical-free products holds for the future,” he added.
Recently, Beco relaunched its household cleaners portfolio with an entirely new mix, which now contributes significantly to the topline. Beco is currently present in 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. We believe this ability, coupled with their strong distribution across offline and online channels, provides Beco a strong headstart in a very large market,” added Sankalp Gupta, Partner, Tanglin Venture Partners.
