Bhavna Suresh, a woman serial entrepreneur closed India’s largest seed round for her nine-month-old startup 10club. This round has become the largest financing seed round in the South Asian market. 10club closed the round at $40 million, which was co-led by an undisclosed international investor and consumer brands-focused Fireside Ventures.
An early mover in the e-commerce roll-up space, this round also saw participation from PDS international, HeyDay, Class 5 Global, boAt founders Aman Gupta & Sameer Mehta (in individual capacities), Secocha Ventures led by Sanket Parekh and several other strategic investors. The funding will essentially be used for investing in technological development, working capital purposes as well as expanding the brand portfolio of 10club.
Bhavna Suresh founded 10club last year, along with co-founders Joel Ayala and Deepak Nair. 10club is an e-commerce based start-up that will acquire small brands listed on Amazon marketplace and help them grow 10X in size. The start-up’s workforce is a 20-people team. These experienced team members are based out of multiple enterprises like Amazon, Flipkart, Udaan, Reliance, Coca Cola amongst others. 10Club will also have Vinay Singh, from Fireside Ventures joining the company’s board.
“Consumer spending continues to accelerate globally and third-party sellers across marketplaces like Amazon and Flipkart are the driving force behind this trend that is here to stay,” said Joel Ayala, Partner at Class 5 Global and one of the Co-founders of 10club.
“I am determined to work with the team to make 10club the go-to destination for the most talented sellers and entrepreneurs who want to take their brands to the next level. Moreover, I am excited to work with Bhavna, Deepak, and the entire 10club team to build the next-generation multi-brand platform in the market.”
Before founding 10club, Suresh has worked on brands such as Lamudi Philippines, a real estate startup that assists consumers in buying, selling and renting property in the Philippines and women’s wear on-demand rental service, StyleBank. She has also acquired a degree in Management Strategies from HEC Paris.
In today’s modern world, it’s disheartening to see that the number of women entrepreneurs is still not quite high. This milestone hit by 10club proves to be a milestone for all women across the country who aim to grow their businesses and lead their start-ups to success.