The funding round was led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund, Manish Choksi (promoter of Asian Paints), along with existing investors Rukam Capital and Synergy Capital
Bengaluru: Mumbai-based home, kitchen, and personal care brand Beco has raised $10 million as part of its pre-series B round fundraise, two years after its series A round, according to a company press release on Wednesday.
The round was led by Tanglin Venture Partners, with participation from Titan Capital Winners Fund, Manish Choksi (promoter of Asian Paints), along with existing investors Rukam Capital and Synergy Capital.
“This round of funding from our existing and new investors comes at a time where we are raring to enter our next phase of growth and enhance our capabilities to meet the demand,” said Aditya Ruia, co-founder of Beco. “The investors’ faith in Beco boosts our confidence that we are headed in the right direction.”
The funds will be used to drive innovation and expand production capacity, establish a robust offline sales infrastructure in key regions, and enhance brand building and awareness, the release added.
“Beco’s focus on product innovation and backend supply chain has enabled them to offer superior products at prices comparable to the incumbents. We have no doubt that this company will continue to be at the forefront of innovation in this sector, and we are excited to be a part of this journey,” said Sankalp Gupta, partner, Tanglin Venture Partners.
Founded in 2019 by Ruia, Akshay Varma, and Anuj Ruia, Beco achieved an exponential three-fold growth last year. The company is present in e-commerce and quick commerce platforms such as Amazon, Zepto, Blinkit, Swiggy Instamart, and DMart Ready. It is also available in general trade across 10,000 retail stores in 20 cities and has entered modern trade, with plans to expand to other major players by the end of this quarter.
Beco also maintains an active direct-to-consumer business and has attracted the interest of multinationals, including ICICI, Mahindra, PVR Inox and Taj, for collaborations on sustainability initiatives.
