EcoSoul Home Inc. has successfully raised $10 million in its Series A funding round led by Accel Partners and Singh Capital Partners. The eco-friendly products company plans to use the funds to launch new products, improve its tech and data capabilities, and expand its reach in the UK, European, and Asian markets.
Founded in 2020, EcoSoul Home Inc. currently offers over 100 eco-friendly products across the US, India, China, and Vietnam through various sales channels, including D2C, retail distribution, and B2B customers.
The startup aims to expand its retail distribution points in the US to 15,000 and expand to Canada, the UK, Germany, and UAE markets in the categories of kitchen and dining, bath, home care, and baby and feminine care.
The global shift towards sustainable everyday essentials and increasing regulatory pressure to reduce the use of single-use plastic are driving growth in the eco-friendly products market. “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,” said Prashanth Prakash, partner at Accel.
EcoSoul Home Co-founders Rahul Singh and Arvind Ganesan expressed their excitement over the strong adoption of their products in the US market and plan to expand their product range in potential international markets.
With the recent funding, EcoSoul Home Inc. is poised to strengthen its position in the eco-friendly products market and contribute to a more sustainable future.