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Thrasio-model startup 10club raises $40 million seed round from Fireside Ventures, others

The large round is the result of the hype around the e-commerce roll-up space—building a house of online brands—due to US-based unicorn Thrasio, which pioneered the model and has been a breakout success.

Mumbai / June 29, 2021 / 02:42 PM IST

Bengaluru-based 10club, a company that acquires young ecommerce product sellers and scales them up, has raised $40 million in one of the largest seed-funding rounds for an Indian startup.

The equity and debt round was led by Fireside Ventures, a backer of brands such as boAt earphones and skincare brand Mamaearth and an international investor in the space whose name was not disclosed.

Other investors include Heyday, a US-based startup running a similar model, Class 5 Global, an American micro VC firm, logistics player PDS International and Secocha Venture, an investment firm led by Fevicol-maker Pidilite’s Sanket Parekh, the startup said on June 29.

10club, which follows the widely successful model of the US-based startup Thrasio, was founded in late 2020 by Bhavna Suresh, Class 5 Global’s Joel Ayala and Deepak Nair.