Kitchen and personal care brand Beco raises $10 mn in pre-Series B round | Start Ups
Kitchen and personal care brand Beco raises $10 mn in pre-Series B round | Start Ups
[ad_1]
Kitchen and personal care brand Beco announced today that it has raised $10 million as part of its pre-Series B round fundraise. The funding 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, as well as existing investors Rukam Capital and Synergy Capital.
The fund infusion will be directed towards innovation and expanding production capacity, developing a strong offline sales infrastructure in key geographies, and finally, towards brand building and enhancing brand awareness.
Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, the Mumbai-based company claims to have achieved 3x growth in the last year.
Aditya Ruia, co-founder of Beco, said, “This round of funding from our existing and new investors comes at a time when we are raring to enter our next phase of growth and enhance our capabilities to meet the demand.”
Since its inception, Beco has gradually expanded its product offerings to address the intent-action gap in sustainable products that is prevalent among consumers today. In offline outlets, Beco has a presence in 10,000 retail stores, with order values matching or exceeding those of legacy brands.
Sankalp Gupta, partner at Tanglin Venture Partners, said, “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 head start in a very large market.”
In just five years, Beco has established a strong foothold in e-commerce and quick commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It is available in general trade across 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter.
First Published: Aug 13 2024 | 4:25 PM IST
[ad_2]
