Ecosoul, a homeware brand focused on sustainability, has raised $20 million in its Series B funding round. The round included equity and debt investments from Accel and strategic investor Bajaj Financial Securities Limited.
The funding round also included investors like StartupXseed Ventures, JSW Ventures, CK Birla Group, and existing partner Singh Capital Partners.
In addition, the company raised $3 million in venture debt from Alteria Capital and SIDBI as part of this round.
The funds will be used to upgrade manufacturing at its three Indian facilities and expand retail operations in key markets, including the US, UK, Europe, GCC countries, and India.
“With over 12,000 retail touchpoints worldwide, including partnerships with Walmart, Costco, Waitrose and Ahold, we have proven that consumers globally are ready to embrace sustainable alternatives without compromising on quality or affordability,” said Arvind Ganesan, cofounder of Ecosoul Home.
“As consumers are moving away from plastic, and investors are increasingly seeing opportunities in companies like us, which are trying to solve this problem,” said Singh. “We have already found the product-market fit and investors are seeing the consumer sentiment driving demand.”
EcoSoul was founded in 2020 by Rahul Singh and Arvind Ganesan. The company makes eco-friendly home products using sustainable materials such as palm leaves, bamboo, sugarcane bagasse, and PLA.
Its products include bamboo chopping boards, biodegradable cups, and palm leaf plates.
The company sells over 1,800 products through 50+ stores in more than seven countries, including India, the USA, Vietnam, and China.
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