EcoSoul Home, a global eco-friendly home essentials startup, has raised USD 10 million in Series A round led by Accel. The round also saw the participation of Singh Capital Partners.
The startup claims to have brought eco-friendly alternatives within the 25 per cent price range of traditional mainstream plastic or paper goods. EcoSoul was founded in 2020 by Rahul Singh and Arvind Ganesan. The D2C brand which sells over 100 products across categories such as kitchenware, dinnerware, and home essentials has a presence in the USA, China, and Vietnam, apart from India.
Talking about the funding, the co-founders said, “We are democratizing the eco-friendly home essentials market. We are excited to see the strong adoption of our products in the US market. We thrive on this momentum and plan to expand our product range in potential international markets.”
“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, Prakash said, is taking advantage of this demand and leveraging the Asian supply chain to offer eco-friendly products at affordable price points.
At present, Accel is backing other Indian startups such as Flipkart and SaaS unicorn Freshworks. Till 2023, Accel has invested in about 86 unicorns across the world.