Startups

Eco-friendly furniture maker Bambeco raises $20.5 million

The ecommerce investment was the second-largest in Maryland for the third quarter of 2015.

Bambeco's bee house. (Courtesy photo)

Bambeco, which makes and sells eco-friendly home furnishings, closed on $20.5 million in investment, the company announced last week.
The Brooklyn, Md.-based company’s latest funding round was led by ABS Capital Partners, which is headquartered in downtown Baltimore. The investment round was the second-largest in Maryland for the third quarter of 2015, according to the just-released MoneyTree Report from PricewaterhouseCoopers that uses data from Thomson Reuters.
The company plans to use the money to expand product offerings and distribution channels. Currently, products are available on the company’s website, as well as MyHabit and One Kings Lane. Retail stores like Whole Foods and J. Crew also carry Bambeco wares.
The company says all of its products are sustainable, meaning they are recycled, reneweable or organic. For instance, Bambeco last month rolled out its own line of bath and bed linens, both made from 100 percent organic cotton. The company also looks to reduce its carbon footprint with its own operations, and address broader environmental issues with its products. Over the summer, they unveiled a line of bee houses in an effort to provide homes for the country’s rapidly declining bee population.
With the new funding, former Coach President Laurence Franklin and ABS General Partner Cal Wheaton are joining Bambeco’s board.
“Bambeco has the all the makings of a solid global brand — beginning with its core values, authenticity, great design, and a genuine commitment to service,” Franklin said in a statement. “I believe the U.S. consumer is just beginning to realize the pleasure that goods that reflect strong social values and have a positive impact on the environment can bring — especially when you have great design aesthetic.
Bambeco, which was founded in 2009, last posted a $4.5 million round in 2013.

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

Our services Preferred partners The journalism fund
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

The person charged in the UnitedHealthcare CEO shooting had a ton of tech connections

From rejection to innovation: How I built a tool to beat AI hiring algorithms at their own game

Where are the country’s most vibrant tech and startup communities?

The looming TikTok ban doesn’t strike financial fear into the hearts of creators — it’s community they’re worried about

Technically Media