Total amount raised
$13.4 Millions
Latest funding date
8/1/2024
Location
Beco has successfully raised significant funds through multiple funding rounds, including a Series B round that garnered ₹830,000,000. The company is dedicated to offering sustainable and eco-friendly alternatives to single-use plastics and packaging.
Keep reading to explore the intricacies of Beco's fundraising journey and the investors backing this innovative platform.
What Is Beco?
Beco, founded in 2018, is based in Andheri, Maharashtra, India. The company was established by Aditya Ruia, Akshay Varma, and Anuj Ruia.
Specializing in sustainable and eco-friendly alternatives, Beco aims to replace single-use plastics and packaging with more environmentally friendly options.
With a team of 101-250 employees, Beco continues to drive positive change in the world through its innovative products.
How Much Funding Has Beco Raised?
- Seed Round
- Amount Raised: ₹40M
- Date: July 2021
- Lead Investors: Climate Angels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Series A
- Amount Raised: $3M
- Date: September 2022
- Lead Investors: Rukam Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and expand market reach.
- Series B
- Amount Raised: ₹830M
- Date: August 2024
- Lead Investors: Tanglin Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production, enhance brand awareness, and build a robust offline sales infrastructure.
Total Amount Raised: $13.3M
Current Valuation: Not publicly disclosed
Key Investors
- Tanglin Venture Partners
- Details: Tanglin Venture Partners is a venture capital firm that led Beco's pre-Series B funding round. They focus on early to growth-stage investments in innovative and high-growth potential companies.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
- Rukam Capital
- Details: Rukam Capital is an existing investor in Beco, having led the Series A round in 2022. They invest in early to growth-stage companies with innovative products and strong market potential.
- Investment Focus Areas: Sustainable products, technology, consumer goods.
- Notable Investments: Beco, Not publicly disclosed.
- Climate Angels
- Details: Climate Angels is a venture capital firm that led Beco's seed round. They focus on funding startups that offer solutions to climate change.
- Investment Focus Areas: Renewable energy, sustainable products, environmental technology.
- Notable Investments: Not publicly disclosed.
- Titan Capital Winners Fund
- Details: Titan Capital Winners Fund participated in Beco's pre-Series B funding round. They typically invest in startups and high-growth companies.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
- Synergy Capital
- Details: Synergy Capital participated in Beco's pre-Series B funding round. They focus on investments in high-growth sectors and companies.
- Investment Focus Areas: Technology, consumer goods, healthcare.
- Notable Investments: Not publicly disclosed.
What's Next for Beco?
As Beco continues to grow, the opportunities ahead are vast. The company plans to build a robust offline sales infrastructure and expand its production capacity. With a presence in 10,000 retail stores and a strong foothold in e-commerce, Beco is well-positioned to capitalize on the increasing demand for eco-friendly products.
Future fundraising seems promising given the company's recent success. The $10 million pre-Series B round led by Tanglin Venture Partners indicates strong investor confidence. This momentum could attract further investments, enabling Beco to scale operations and enhance brand awareness.
However, challenges remain. Competing with established brands and maintaining eco-friendly practices while scaling production are significant hurdles. Ensuring consistent product quality and navigating market dynamics will be crucial for sustained growth.
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