Germany-based ECO Group announced that it has raised €5M in Series A round of funding to expand its eco-friendly consumer goods portfolio and diversify the B2B platform with more sustainable products.
Per the 2022 Sustainable Market Share Index, sustainability-marketed products have accounted for nearly a third of the industry’s growth from 2013 to 2022, with consistent year-over-year expansion that outpaces conventionally marketed products by approximately two-fold. Now, consumers of all ages actively seek high-quality, eco-friendly alternatives.
In line with this trend, ECO Group has developed a unique platform that promotes a generation of innovative brands and a new wave of conscious consumers in the sustainability space.
The Investors
Action Capital, a prominent growth investor, led the round and lauded ECO Group for creating a platform that caters to those trends.
“Right from the start, we have been impressed by the company’s traction, and by the excellence and commitment of its team. We’re happy to be backing such a purpose-driven company and support them on their growth journey,” says Christoph Braun, partner at Acton Capital.
In Europe and Canada, Acton Capital stands as a leading growth-stage Venture Capital investor, specialising in supporting established business models driven by digital technology.
Over 100 startups have received valuable backing from Acton as it strives towards market leadership. Its impressive portfolio includes industry-leading names such as Momox, Sofatutor, Mambu, HomeToGo, zooplus, Audibene, and MyTheresa.
ECO Group’s existing investor, Fair Capital Partners, also participated in the funding round. Fair Capital Partners Impact Investing focuses on encouraging sustainable practices and positive societal impact.
Its Impact Fund allows investors to support young and promising companies involved in climate change combating activities, like renewable energy, sustainable food, and circular economy initiatives.
Fostering innovation in eco-friendly products
Thomas Nehfischer and Christoph Schwerdtle, both former executives at Procter & Gamble, came together to establish ECO Group, leveraging their expertise in the brand and retail domains. This marks their second collaborative venture.
In pursuit of its purpose-driven mission, ECO Group serves as a dynamic platform for eco-conscious brands, striving to introduce environmentally-friendly choices into people’s daily routines.
The firm accomplishes this through a scalable go-to-market platform, showcasing a diverse range of high-quality products, including dental care, laundry detergents, and household cleaning essentials, all carrying the eco-brand seal.
“We’re glad to have such renowned investors who share our vision of maximising the positive impact on the environment and society and support us in our sustainable growth strategy,” says Schwerdtle.
“We’re excited to be doubling down on building a hub for innovative, sustainable brands, and providing consumers with a growing range of eco-friendly products.”
In addition to the Series A announcement, ECO Group has also made a major move by acquiring a majority stake in JM Nature GmbH, owner of the natural cosmetics brand BEN&ANNA. This strategic step brings ECO Group and BEN&ANNA closer together in their joint mission to foster sustainable lifestyles.
Read the orginal article: https://siliconcanals.com/news/startups/eco-group-secures-5m/
