Fireside-Backed 10Club Files for Insolvency Amid Roll-Up Model Challenges
According to RoC filings, 10Club is moving for insolvency as its assets are not sufficient to pay off its debts.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Thrasio-style ecommerce marketplace 10Club has filed for insolvency proceedings before the National Company Law Tribunal (NCLT), marking a significant setback in the roll-up ecommerce space.
According to filings with the Registrar of Companies (RoC), the Fireside Ventures-backed startup is initiating the Corporate Insolvency Resolution Process at the Bengaluru bench, citing that its assets are insufficient to pay off debts.
Founded by Bhavna Suresh, Deepak Nair, and Joel Ayala, 10Club made headlines in 2021 with a USD 40 million seed round—one of the largest in India. A year later, it raised another USD 30 million from US-based Olive Tree Capital and existing backers.
10Club's model involved acquiring small businesses, retaining core teams, and scaling them under a single operational umbrella. In October 2023, the company announced a strategic pivot to build a consolidated home and kitchen brand. It also onboarded retail veteran Kavitha Rao as co-founder and COO in January 2024 to drive growth.
However, despite early momentum, the model has faced headwinds. Industry peers like the Good Glamm Group have also seen roll-up bets falter, with recent brand divestitures occurring at steep losses. 10Club's insolvency underscores the volatility in scaling D2C brands through acquisition-led strategies.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Bloomberg
an hour ago
- Bloomberg
India Plans Air-Conditioning Temperature Standards to Save Power
India is working with appliance makers to standardize the cooling range of air conditioners to ensure that the minimum temperature is not set below 20C (68F), in an effort to cut the energy use of these power guzzlers. The plan, although at an initial stage, reflects the government's focus to boost energy efficiency as electricity consumption soars. In recent years, demand has outpaced generation capacity, leaving parts of the country without power during sweltering summer months of April through June. Currently, thermostats on some of these devices can be adjusted to as low as 16C.
Forbes
2 hours ago
- Forbes
Chronicle AI Presentations Launches To 100,000 User Waitlist
Mayuresh Patole and Tejas Gawande, co-founders of Chronicle Chronicle, the AI-powered presentation startup co-founded by Mayuresh Patole and Tejas Gawande, opened to the public last week after months in stealth and a waitlist that topped 100,000 users—including 10,000 businesses. Patole, a former management consultant and designer, describes Chronicle as 'a modern format for storytelling,' that does much more than making the process faster. 'Chronicle is quite different from PowerPoint in that the output is not slides at all. It is a completely different format,' he said. 'You can create a really impactful and stunning presentation in minutes instead of hours. We also ensure that you cannot create a bad presentation on Chronicle. We want to bring good information design to people's fingertips.' UI for the Chronical app Chronicle offers a free-form canvas and interactive widgets, with AI handling research, narrative flow, and design execution. 'It won't present for you, but it will ensure what you present is drop-dead gorgeous and impactful,' Patole said. The product also introduces features like Peek and Deep Hover, which let presenters zoom in, highlight, or isolate content to guide audience attention. Users start by signing up at where they can either begin with a blank canvas or generate a draft by pasting text, uploading a PDF, or sharing a link. Chronicle's AI then analyzes the input, suggests an outline, and assembles a draft presentation made up of widgets—modular blocks for text, images, charts, and embedded media. Each widget is pre-engineered for design and motion, so even non-designers can build visually compelling, interactive presentations. Users can drag, drop, and rearrange widgets, swap layouts instantly, and use keyboard shortcuts for speed. The AI agent is always available to research, rewrite, or remix content, and the result is a presentation that scrolls more like a website than a traditional deck. When finished, users can share a link, present live, or export their work. UI for Chronical Patole's decade-long obsession with presentations and Gawande's background in social media and growth shapes the company's approach. 'Modern audiences are trained by social media to expect information that's visual, scannable, and high-impact,' Gawande said. Chronicle's goal is to make it impossible to create a bad deck, not just to speed up the process. 'The problem is that it's extremely hard to make great presentations but at the same time it's extremely easy to make bad ones.' Despite the dominance of PowerPoint and Canva, which both use AI in their own ways to assist deck production, the field is crowded with alternatives like Prezi, Tome, Slidebean, Pitch, Decktopus, Visme, and Gamma, each offering their own take on AI-assisted design and storytelling. Chronicle's most direct competitor is Gamma, which also uses AI to make presentations from text prompts. They claim to have fifty million users and $50 million in annual recurring revenue. Product preview. Chronicle's waitlist of 100,000 users includes 10,000 businesses that were acquired organically. 'We saw interest explode with zero marketing. It was all word-of-mouth from people who created something amazing with Chronicle and showed their teams,' Patole notes. 'This response has been humbling, and it tells us how desperate people are for a better way to communicate ideas.' Chronicle has raised $7.5 million in 2023 from Accel, Square Peg, and angels from Apple, Google, Meta, Slack, Stripe, and Adobe. Patole says the focus now is on building a world-class product and expanding access: 'We want to find our early believers, our champions, our ambassadors, and then go very deep on solving their problems. The next step is really just increasing our beta and giving access to more and more people, and sharing what's working out for them, and really finding those first few people who would just love the product.' Chronicle plans to monetize with a freemium SaaS business model, offering free access for individuals and paid plans for teams and enterprises. As Patole puts it, 'The way you present can be the difference between winning and losing, between standing out and blending in. That's why Chronicle is built for those who refuse to settle for mediocrity.'
Entrepreneur
2 hours ago
- Entrepreneur
Padukone School of Badminton Expands to 75 Centres in First Year, Targets 250 by 2027
"As someone who grew up playing badminton, I've experienced firsthand how much this sport can shape one's life physically, mentally, and emotionally," says Deepika Padukone, Founder, PSB You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Padukone School of Badminton (PSB), founded by actor and former national-level badminton player Deepika Padukone and mentored by former world recognised badminton player Prakash Padukone, has reached a milestone by launching over 75 grassroots coaching centres across 18 Indian cities within its first year of operations. The institution now plans to scale to 100 centres by the end of 2025 and 250 centres by 2027, as part of its nationwide "Badminton for All" initiative. The centres are currently operational in cities including Bengaluru, NCR, Mumbai, Chennai, Jaipur, Pune, Nashik, Mysuru, Panipat, Dehradun, Udaipur, Coimbatore, Sangli, and Surat, among others. The expansion is part of PSB's broader mission to democratise access to affordable, high-quality badminton coaching for individuals of all ages and skill levels. "As someone who grew up playing badminton, I've experienced firsthand how much this sport can shape one's life—physically, mentally, and emotionally," said Deepika Padukone, Founder of PSB. "Through PSB, I hope we can bring the joy and discipline of badminton to people from all walks of life and build a generation that is healthier, more focused, and inspired by sport." Prakash Padukone, Mentor and Advisor at PSB, added, "Sport is an integral part of growing up—it instils discipline, resilience, and a winning mindset that extends well beyond the court. With PSB, our goal is to make quality coaching accessible and affordable, nurture talent from the grassroots, and set a strong foundation for the future of Indian badminton." PSB operates through partnerships with schools, educational institutions, and local venues, establishing grassroots academies that serve as feeder pipelines to its three High-Performance Centres of Excellence in Bengaluru. These flagship centres offer advanced training and scouting pathways for promising athletes. To ensure consistency and quality, PSB has developed a standardised coaching methodology under the guidance of Prakash Padukone and has trained over 100 coaches through a structured certification programme. The organisation also supports the development of coaching careers, contributing to sustainable employment in the sports sector. With its expanding footprint, PSB aims to build a robust ecosystem for badminton in India—reaching beyond elite performance to include community participation, early-stage talent development, and professional coaching opportunities.
