Rukam Capital, Priyavrata Mafatlal, Better Capital, Prashant Pittie, and Titan Capital led a Series A round of funding in September 2022 for the environmentally friendly personal care company Beco, which raised $3 million (Rs 24 crore). Along with Exceed Entertainment, investors Bimal Parekh, Sweta Amrish Rau, Arjun Purkayastha, Harish Narayanan, Rehan Shaikh, Shantanu Deshpande, Kolte-Patil Family Ventures, Gaurav Arora, and others took part in the round.
To accelerate growth, Beco intends to use the cash for R&D, product innovation, sustainability development, marketing, supply chain operations, and talent acquisition across verticals. In the upcoming months, the direct-to-consumer business will diversify its product offering and expand into 10,000 offline retail locations across India.
In a statement regarding the investment, managing partner at Rukam Capital Archana Jahagirdar stated, “Beco aims to disrupt the market with its competitive pricing and consistent emphasis on quality, efficacy, and affordability, in an environment where natural and sustainable products are otherwise being sold at a 100% premium. Their growth in the last year has been promising, reflective of strong affinity and love for the brand.”
Beco, a Mumbai-based start-up, was established in 2019 by Aditya Ruia, Akshay Varma, and Anuj Ruia to make sustainable living simple for Indian consumers.