New Delhi, Sept. 16 -- EcoSoul Home Inc, a sustainable home essentials brand, has raised $20 million (around Rs 176 crore) in a mix of equity and debt in its Series B funding round, which was led by venture capital firm and existing investor Accel, alongside Bajaj Financial Securities, StartupXseed Ventures, JSW Ventures, and CK Birla Group.

The round, which will help the company expand globally, also saw participation from existing investor Singh Capital Partners. Meanwhile, Alteria Capital and SIDBI provided additional venture debt.

EcoSoul said it will use the funds to improve manufacturing across its three production facilities in India and strengthen its omnichannel retail presence in key global markets, including the US, the UK, Europe, the Gulf Cooperation Council, and India.

"With the backing of such marquee investors, we are well-positioned to accelerate our growth and make sustainability mainstream by bringing sustainable living solutions to households and businesses across the globe," said Rahul Singh, co-founder and CEO of EcoSoul Home.

With this round, EcoSoul has raised more than $50 million to date. In April 2023, the company had raised $10 million from Accel and Singh Capital Partners.

Founded in 2020 by Singh and Arvind Ganesan, EcoSoul offers high-quality sustainable products, priced at just 5-15% of conventional plastic alternatives. It has a portfolio of over 1,000 SKUs across tableware, kitchenware, personal hygiene, and babycare categories. The products are made from renewable materials such as sugarcane bagasse, bamboo, areca palm leaves, birchwood, and corn starch.

"With over 12,000 retail touchpoints worldwide, including partnerships with Walmart, Costco, Waitrose, and Ahold, we've proven that consumers globally are ready to embrace sustainable alternatives without compromising on quality or affordability," said Ganesan.

EcoSoul also plans to expand into new product categories, including chemical-free home cleaning solutions and tree-free paper products such as printing paper and stationery.

Ambit Capital served as advisor for the transaction.

Published by HT Digital Content Services with permission from VC Circle.