Founded in 2018, Mumbai-based Beco is revolutionizing home and personal care with its eco-friendly, zero-plastic cleaning products. Powered by natural bio-enzymes and plant-based fibers, Beco’s offerings range from tissues, garbage bags, and towel rolls to toothbrushes. The brand ensures a safe, chemical-free cleaning experience for homes while prioritizing sustainability.
Beco’s revenue doubled in FY24, reaching Rs 49.79 crore, up from Rs 24.97 crore in FY23. However, the company’s net loss widened to Rs 9.36 crore in FY24 from Rs 3.9 crore in FY23, reflecting increased investments in growth. The EBITDA margin dropped to -18.40% in FY24, from -15.17% in FY23, while ROCE declined sharply to -91.90% from -24.68%.
Expenses rose by 2x, totaling Rs 59.15 crore in FY24 compared to Rs 28.87 crore in FY23. Advertisement costs surged to 30.19% of total expenses in FY24, up from 13.05% in FY23. Employee benefit costs decreased to 18.61% in FY24 from 22.82% in FY23, while the cost of materials fell slightly to 40.49% from 46.65%. Depreciation remained minimal at 0.32% in FY24.
Beco has raised Rs 111.67 crore across three funding rounds, with the latest pre-Series B round closing in August 2024. The company’s shareholding includes co-founders Aditya Ruia (12.49%), Anuj Ruia (12.49%), and Akshay Varma (12.49%), along with notable investors like Dia Mirza (1.50%), AngelList (2.15%), and Climate Angels Trust (1.16%), with an ESOP pool of 3.97%.
Despite its financial challenges, Beco continues to champion sustainability and innovation, making eco-friendly living accessible to all.