The Thrasio-style venture, 10Club has raised $40 million in one of the largest seed funding rounds in the country from investors, co-led by Fireside Ventures and an undisclosed international investor, Including HeyDay, PDS international, Class 5 Global, Secocha Ventures, and boAt founders Aman Gupta and Sameer Mehta in their individual capacities. And has acquired My NewBorn, an e-commerce online business in the baby products category.
Thrasio is a US-based profitable startup that discovers top-rated and bestselling items on Amazon. It buys those firms from their small-time owners and grows them.
Based in Bengaluru, founded in the year 2021 by Lamudi CEO Bhavna Suresh, 22feet co-founder Deepak Nair, and Class 5 Global co-founder Joel Ayala, 10club acquires small brands that sell their products on e-commerce platforms and scales those businesses. ensuring great businesses reach even greater heights, and we do this at hypervelocity.
“We have already built our foundational pillars of the centralized platform with a strong leadership team, a partner ecosystem, and an operational playbook to deliver high performance,” 10club’s co-founder Suresh said. “This funding will enable us to expand our portfolio and bring about transformational changes for the businesses we acquire. Having HeyDay participate in the round also gives us the opportunity to learn from operators.”
10Club currently has an employee base of 20, which includes the employees who were leaders in companies such as Amazon, Flipkart, Udaan, Reliance, and Coca-Cola and are Hiring the entrepreneurs.