Beco, a Mumbai-based home and personal care brand, has successfully raised $10 million in a funding round led by Tanglin Venture Partners. This round also saw participation from Titan Winners Fund, Asian Paints promoter Manish Choksi, and existing investors Rukam Capital and Synergy Capital. The funding comes at a time when there is a growing consumer demand for new direct-to-consumer (D2C) brands, fueled by the rapid deliveries offered by quick-commerce platforms like Blinkit, Zepto, and Instamart.
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Founded in 2019 by Anuj Ruia, Akshay Varma, and Aditya Ruia, Beco specializes in producing eco-friendly, plant-based home and personal care products. Their product range includes laundry liquids, floor cleaners, dishwashing liquids and gels, tissue papers, toilet rolls, napkins, kitchen towels, and compostable garbage bags. The brand has made significant strides in the market, currently present in over 10,000 retail stores across more than 20 cities in India. With the new funding, Beco aims to expand its retail presence to 30,000-40,000 stores within the next 12 months, with over 50% of sales expected to come from offline channels.
The funds will be utilized to boost Beco’s production capacity, invest in research and development, strengthen its offline sales infrastructure, and enhance brand awareness. Co-founder Aditya Ruia emphasized the alignment of this funding round with the company’s long-term vision, stating, “I think the kind of potential and the market size that the current industry has and scale that we are in today, there’s a longer journey to go for. That is the reason why the positioning of this round is very much in line with the way we think and what the future holds for us.”
Beco’s focus on eco-friendly and toxin-free products resonates with the increasing consumer preference for healthier options. This shift in consumer behavior has attracted significant interest from venture capital firms, leading to a wave of deal-making in the early- to mid-stage brand sector. The company’s commitment to product innovation and a robust supply chain has enabled it to offer superior products at competitive prices.
The funding round marks a significant milestone for Beco, which had previously raised $3 million in a 2022 Series A round led by Rukam Capital. According to Tracxn, the company currently holds a post-money valuation of $11.1 million.
Sankalp Gupta, partner at Tanglin Venture Partners, highlighted Beco’s potential, stating, “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.”
As Beco continues to expand its footprint in the Indian market, it remains committed to its mission of providing sustainable and eco-friendly products. The company aims to triple its revenue by next year, capitalizing on the growing demand for D2C brands and leveraging its strong presence on e-commerce and quick-commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. With a clear vision and strategic investments, Beco is poised for significant growth in the coming years.
