Home and personal care brand Beco has secured $3 million in Series A round led by Rukam Capital. A host of investors such as Priyavrata Mafatlal, Better Capital, Prashant Pittie, Titan capital, Bimal Parekh, Sweta Amrish Rau, Arjun Purkayastha, Harish Naraynan and Kolte-Patil Family Ventures also participated in this financing round.
Entrackr had exclusively reported about this round on August 23.
The proceeds will be deployed towards product development, marketing, improving supply chain and talent acquisition, Beco said in a press release.
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 toilet rolls, garbage bags and toothbrushes.
The Mumbai-based startup claims to have clocked 5X growth in FY22 and reached over a million households. In July last year, Climate Angels Fund and others including Sequoia Sprout had invested Rs 4 crore in Beco.
While Beco is yet to file its financial statement for FY22, its operating revenue jumped 2.8X to Rs 4.17 crore in FY21, as per its annual financial statements available with the Registrar of Companies (RoC). Unlike a majority of early stage startups, it also posted a profit of Rs 5 lakhs in FY21.