Home and personal care direct to consumer (D2C) brand Beco is set to raise Rs 11 crore in a fresh financing round led by Rukam Capital Trust. This would be the second round of funding for the company since its inception in 2019.
The Mumbai-based company has passed a special resolution to issue 210 equity and 3,096 subscription shares at issue price of Rs 33,882 per share to raise Rs 11.20 crore, regulatory filings with the Registrar of Companies (RoC) show.
Rukam Capital led the round with Rs 3.75 crore while Koenig Solutions participated with Rs 2 crore. Let’s Venture, AL Trust, ClimateAngels, Kunal Bhal, Aamir Khan Films LLP and 18 other investors also take part in the funding round.
The fresh proceeds will be used to meet general operating, working capital requirements, capital expenditure and to expand business operations, as mentioned further in the filings. According to Entrackr’s estimates, the company will be valued at around Rs 77 crore (post allotment).
Founded in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia, Beco claims to be a pure eco-friendly and zero-plastic company which offers a wide range of products for home & kitchen and personal care. Its offerings include tissues, towel rolls and toiletries among others.
Beco is yet to file its financial statement for FY22 but its operating revenue jumped 2.8X to Rs 4.17 crore in FY21, as per its annual financial statements available with the RoC. The firm also posted a profit of Rs 5 lakhs in the fiscal year ending March 2021.