EcoSoul Home Raises $10 Mn In Series A Funding
EcoSoul Home has raised $10 million in a Series A funding round led by Accel Partners and Singh Capital Partners.
As per the startup, the freshly raised funds will be used to launch new products and fund international expansion in the UK, Europe and Asian markets, besides improving its tech and data capabilities.
EcoSoul Home | Eco-friendly Products
Co-founded by Rahul Singh and Arvind Ganesan in 2020, EcoSoul Home is a global eco-friendly products company with an active sales and operational presence in the USA, India, China, and Vietnam, offering more than 100 products worldwide.
The startup is on a mission to accelerate the world’s transition to a sustainable lifestyle by creating eco-friendly goods for all from Earth’s most renewable resources.
Speaking on the development, Co-founders Rahul Singh and Arvind Ganesan, in a joint statement, said,
“We are grateful to our customers, investors, partners, and associates for helping us in driving our mission of accelerating the world’s transition to a sustainable lifestyle by creating plastic-free and tree-free products from earth’s most renewable resources. Our differentiated products and supply chain innovation enables us to bring eco-friendly home essentials to price points comparable to traditional plastic and tree-based paper goods. In short, we are democratizing the eco-friendly home essentials market.”
As per the startup, it is witnessing strong adoption of its products in the US market. It aims to serve customers in more than 15,000 retail distribution points across the US.
The startup also plans to expand its product range in potential international markets like Canada, the UK, Germany and UAE. Currently, EcoSoul Home has multiple sales channels, including D2C (direct-to-consumer), retail distribution across 3,500 stores in the US, and multiple B2B (business-to-business) customers.
Commenting on the development, Prashanth Prakash, Partner at Accel, said,
“There is a global macro-tailwind of shifting away from the use of single-use plastic with increasing regulatory pressure. This coupled with rising consumer sentiments towards sustainable everyday essentials, especially in western markets, is driving growth.”
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