10club raises $40M in a seed round

10club-raises-$40-million-seed-funding(source: SaaS Industry)

At a Glance

10club, an Indian startup similar to Thrasio, has raised $40 million in a seed funding round. The round was led by Fireside Ventures and an unnamed investor. In India, 10club is one of a few dozen companies aiming to duplicate what is known as the Thrasio-model. Several companies, like Thrasio, are attempting to buy brands that offer midrange to high-end items in markets with little competition.


10club, an Indian startup similar to Thrasio, has raised $40 million in a seed funding round. The round was co-led by Fireside Ventures and an unnamed investor. Other participants include HeyDay, PDS International, Class 5 Global, Secocha Ventures, and Aman Gupta and Sameer Mehta, the founders of hardware company boAt. This round is one of the largest seed financings in the South Asian market.

The company’s LinkedIn page says, “Great businesses are growing on the backs of e-commerce giants like Amazon, Flipkart, Nykaa, and more. They get their foundational years right but find it difficult to scale and understand that competition is hard to curb. That’s where we step in, allowing you, the entrepreneurs, to enjoy an exit and benefit from years of hard work.”    

In India, 10club is one of a few dozen companies aiming to duplicate what is known as the Thrasio-model. Several companies, like Thrasio, are attempting to buy brands that offer midrange to high-end items in markets with little competition. Some of these businesses’ common categories are so undervalued that Amazon and other e-commerce companies have yet to explore them through their private label ecosystems.

The company has already built the foundational pillars of the centralized platform and has signed letters of intent worth $15 million from many companies, and will use the new capital to operate the new businesses.

Bhavna Suresh, the co-founder of 10club and former CEO of real-estate marketplace Lamudi

“India and online-first brands are at the cusp of the next revolution. We at Fireside believe that both VC and acquisition-driven models will co-exist going forward and can turbocharge the growth of early-stage brands. Together with the team at 10Club, we will be able to drive this change and enable e-commerce entrepreneurs to realize the full potential of their brands.” Mr. Singh will also join 10club’s board. 

Vinay Singh, a partner at Fireside Ventures
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