Beco Raises $3 Million in Series A Round Led by Rukam Capital Funds will be utilized to acquire talent across verticals to boost growth, Beco's R&D efforts, marketing, and supply chain functions
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Beco on Monday announced to have raised $3 million in Series A funding round. The round was led by Rukam Capital, with participation from investors including Priyavrata Mafatlal, Better Capital, Prashant Pittie and Titan Capital. Among other investors 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. Funds will be utilized to acquire talent across verticals to boost growth, Beco's 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, co-founder, Beco.
"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, Rukam Capital
Beco recorded a five times revenue jump in addition to multiple product and category launches in the last financial year. The recent launches include a new natural liquid cleaner category with three new products including dishwashing, floor and laundry liquids. Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, the Mumbai-based startup aims to make sustainable living convenient by providing easily accessible and affordable products for Indian consumers. Furthermore, the company 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, laundry detergent sheets. As a mark of Beco's excellence in this domain and its relentless pursuit of making India a plastic-free nation, Dia Mirza, actor, climate warrior and Beco's brand ambassador has participated in this round along with other celebrities including Aamir Khan, Ranbir Kapoor, Rohit Sharma, and Bhumi Pednekar.