New Delhi/ Mumbai, 21st December 2022: Eco-Friendly Home & Personal Care D2C Startup Beco has announced that it has raised USD 3 million in series A led by Rukam Capital. The 100% natural and sustainable home and personal care brand that offers affordable and accessible products to consumers, also received funding from Climate Angels – a SEBI CAT I investment fund focussed on creating a sustainable future by exclusively focussing on companies working in the climate change space, among others. Beco’s relentless pursuit of making India a plastic-free nation has caught the attention of its brand ambassador, too – actor and eco-investor Dia Mirza, who also participated in this round of funding along with Climate Angels and others.
Dia Mirza, who has been consistently putting her money where her heart is in terms of investments in sustainable brands, says, “Our relationship with the planet reflects the extent of mindfulness, intentionality and thoughtfulness we invest in our own lives. Our consumption patterns, the things we pour our time, energy and money into, shape not just who we become but also what becomes of the earth that we call our home. The reason why I started speaking up for the planet, and began to make intentional choices in my work and in my personal life inevitably led to a role as the UN Environment Goodwill Ambassador & UN Secretary-General’s Advocate for the SDGs and to my new calling as a green investor. I am investing in Beco because I feel it is my responsibility to not just use my voice but my resources to back eco-sensitive, sustainable businesses. Beco’s mission resonates with my vision and I am happy to work in synergy towards a happier, healthier planet.”
Speaking about their decision to invest in Beco, Sumeet Singh of Climate Angels, said, “At Climate Angels we are excited to back Beco for the second time. What made us circle back to Beco was the high revenue growth it has indicated since its inception. Beco’s monthly revenue has grown by more than 8 times in the last 18 months. Needless to say, the team has mastered the art of customer loyalty and retention through their delivery of high-quality products ceaselessly. Beco is also extremely capital efficient in its operations; the growth mentioned earlier came in with a minor injection of capital. We are excited to see where this new round of funding will take Beco.”
Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco aims to make sustainable living convenient by providing easily accessible and affordable products for Indian consumers. The Mumbai-based startup is on a steady path to clocking massive growth with expansion into 10,000 offline retail stores across the country. Furthermore, Beco will be expanding 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, and more. With the Indian eco-friendly product market having seen a steady growth of 73% over the last 5-7 years and trending upwards, Beco is poised to become the market leader in its segment. The fund infusion will be directed towards Beco’s R&D (product innovation, development in sustainability) efforts, Marketing, and Supply Chain function, as well as focussing on talent acquisition across verticals to boost growth.
Commenting on the funding, Aditya Ruia, Co-founder, Beco, said, “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. We are thrilled to have a spate of like-minded individuals in our investors who share our vision of making sustainable living convenient, affordable, accessible, and finally a reality”, he added.
In FY 2021-22, Beco recorded a 5x revenue jump while launching multiple products across categories. Till date, the company has launched products including tissue rolls, bamboo facial tissues, dishwashing liquid, toothbrushes, and biodegradable garbage bags, to name a few. The recent launches include a new natural liquid cleaner category with three new products including dishwashing, floor, and laundry liquids. With regards to the impact Beco has created, the brand has reached over 1 million households and has empowered them with 30 different eco-friendly and non-toxic products. Beco has replaced carcinogenic chemicals in cleaning products with a coconut enzyme formula that is 100% environment-friendly. Furthermore, Bamboo – a primary raw material used by the company – is sourced from North-east India, thereby empowering several families in the region. Beco is furthering its mission of crafting, supporting and driving a positive change in the world with sustainable and eco-friendly alternatives to single-use plastics and packaging.