India’s clean home care newcomer Beco closes US$10M in pre-Series B funding

(All image credits: Beco).

19 Aug 2024 --- Home care brand Beco raises US$10 million in its pre-Series B funding round, two years after the company’s US$3 million Series A round.

The recent capital injection was spearheaded by Tanglin Venture Partners, with contributions from Titan Capital Winners Fund, Manish Choksi, Synergy Capital and existing investor Rukam Capital.

Founded five years ago by Aditya Ruia, Akshay Varma and Anuj Ruia, Beco says the company was created to offer consumers safer and more sustainable choices in home care. Its product range has expanded steadily since the launch, addressing the gap between consumer intentions and actions regarding sustainability.

The company recently revamped its household cleaning portfolio, which now contributes significantly to its revenue. In retail, Beco is present in over 10,000 stores, claiming order values that “match or surpass” those of established brands.

Beco founders Aditya Ruia, Akshay Varma and Anuj Ruia.Based in Mumbai, India, the start-up has made strides in the home care sector, claiming threefold growth over the past year. The newly raised funds will be used to drive innovation, increase production capacity, build a robust offline sales network and enhance brand visibility.

“What Beco realized from day one is that it is not for a lack of intent but a lack of viable choices that sustainable alternatives often get overlooked. This belief is validated by our success in disrupting the market consistently with innovative offerings, reflected in the growth we have seen in the last year,” states Aditya Ruia, co-founder of Beco.

“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 hold for the future.”

Growing e-commerce presence

Beco has developed a strong omnichannel presence, with its products available on major e-commerce platforms like Amazon and quick commerce services such as Zepto, Blinkit and Swiggy Instamart.

The company is also present in general trade across 20 cities and is making inroads into other major retailers.

Beco’s direct-to-consumer business is active, and it has attracted interest from major multinationals like Amazon, ICICI, Mahindra, PVR Inox and TAJ for potential sustainability collaborations.

In other local business headlines, Coty launched its cosmetics brand, Max Factor, in India through a partnership with retailer House of Beauty. The American multinational beauty company also recruits actress Priyanka Chopra as a brand ambassador.

Barentz International, a global specialty ingredients solution provider, acquired Anshul Life Sciences Group in India this month. The life science-focused specialty chemicals distributor caters to regulated pharmaceuticals, food, nutraceuticals and personal care markets.

By Benjamin Ferrer

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