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Bambeco Raises $4.5 Million in First Round Led by New Atlantic Ventures, Maryland Venture Fund

11/04/2013
Bambeco, a Baltimore-based online retailer focused on eco-conscious home furnishings and décor, said on Monday it has raised $4.5 million in its first institutional round of funding, led by New Atlantic Ventures. The Maryland Venture Fund and several angel investors, including Team In Training founder Bruce Cleland, also participated. The company said it will use the proceeds to develop its national in-house design capabilities, introduce private label products and bolster sales and marketing activities. The company on Monday also named Deborah Baldini, who previously developed the retail practice at Freeborders, as its chief creative officer. "We recognize ecommerce is on an upward trajectory and our mission is to remove unnecessary carbon out of product production, packaging and distribution across the industry," said co-founder and CEO Susan Aplin, who previously held executive roles at Williams-Sonoma, Gap, Sports Authority and Staples. Launched in 2009, Bambeco curates and sells furniture, gifts and accessories for the home made from recycled, reclaimed, organic and natural materials. Products include Adirondack chairs made from recycled detergent bottles and milk jugs, organic bedding, chemical-free natural fiber rugs and recycled glassware.

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