EcoSoul Home raises $10M funding from Accel, Singh Capital Partners

EcoSoul Home, a category-leading startup in the eco-friendly home essentials products space, has raised $10 million in a Series A  funding round led by  Accel with participation from Singh Capital Partners. 

Over the past year, the company has seen tremendous growth in the US market. It has established itself as a leading player across key e-commerce platforms and retail banners in multiple product categories.

Founded in 2020 by Rahul Singh and Arvind Ganesan, EcoSoul Home is a global eco-friendly products company with an active sales and operational presence in countries like the USA, India, China, and Vietnam, offering more than 100+ products worldwide.

The brand claims to have multiple sales channels, including D2C, retail distribution across ~3500 stores in the US, and multiple B2B customers.

With this raised funds, EcoSoul will focus on launching new products and expanding its international presence in the UK, Europe and Asian markets. It will also focus on improving its tech and data capabilities.

Statements:

Rahul Singh and Arvind Ganesan 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."

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. EcoSoul is taking advantage of this demand and leveraging the Asian supply chain to offer eco-friendly products at affordable price points. The EcoSoul team, with their global supply chain expertise and strong commercial value proposition for retailers, is uniquely positioned to be one of the early disruptors in this industry."

By 2030, the global eco-friendly & sustainable home goods market is expected to reach $300+ bn. In the US, even though sustainability-marketed products are 16.1% of the market, they delivered 54.7% of the CPG market growth. Sustainability-marketed products grew at a rate of 7.1 times that of conventionally marketed products and 3.8 times that of the CPG market.

EcoSoul has recently launched several products in India and has expansion plans for the Canada, UK, Germany and UAE markets in the categories of Kitchen and Dining, Bath, Home Care, and Baby and Feminine Care.

Also Read:

• AI solution startup Cognecto raises Rs 4Cr from Inflection Point Ventures'