Company Intelligence Profile
BOXSEAT VENTURES PRIVATE LIMITED
Boxseat Ventures Pvt Ltd is the legal entity behind "10Club," a Bengaluru e-commerce roll-up that raised a landmark $40M seed round in 2021, pivoted to a single home-and-kitchen D2C brand in 2023, and filed for voluntary insolvency (NCLT, Section 10 IBC) around May 2025.
CIN: U51909KA2021PTC147248Active on MCA record, but the company (operating as "10Club") passed a special shareholder resolution and filed for voluntary insolvency (Section 10, IBC 2016) with NCLT Bengaluru around May 2025; an Interim Resolution Professional (Srilakshi Purushottam) has been appointed. Effectively a failed/wound-down operating business as of 2026 even though the CIN status has not been updated to reflect CIRP on the aggregator sites checked.RoC-Bangalore, KarnatakaConfidence: medium-high — identity/incorporation facts confirmed by 3 independent registry aggregators
AI OverviewGenerated from public records
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
Company Identity
Confirmed| Registered name | BOXSEAT VENTURES PRIVATE LIMITED |
|---|---|
| CIN | U51909KA2021PTC147248 |
| PAN | AAJCB8385R — derived from GSTIN prefixes 29AAJCB8385R1ZH and 27AAJCB8385R1ZL (consistent across piceapp.com, mastersindia.co, fnshiftsolutions.com); not independently confirmed from an MCA filing, so treat as confirmed-by-cross-reference rather than primary-source confirmed |
| Status | Active on MCA record, but the company (operating as "10Club") passed a special shareholder resolution and filed for voluntary insolvency (Section 10, IBC 2016) with NCLT Bengaluru around May 2025; an Interim Resolution Professional (Srilakshi Purushottam) has been appointed. Effectively a failed/wound-down operating business as of 2026 even though the CIN status has not been updated to reflect CIRP on the aggregator sites checked. |
| Listing | Unlisted / not listed (private limited company) |
| Incorporated | 07 May 2021 (source: Tofler, Falconebiz, TheCompanyCheck — all agree) |
| ROC | RoC-Bangalore, Karnataka |
| Sector (NIC) | NIC: "Other wholesale trading n.e.c." (registry classification). Actual business: e-commerce "house of brands" / D2C roll-up in home, kitchen & garden categories, later operating under the consumer-facing brand "10Club". |
| Registered address | 461, 3rd Floor, Dongle Desk, Sri Krishna Temple Road, Binnamangala 1st Stage, Indiranagar, Bangalore North, Karnataka 560038 (source: Tofler, Falconebiz, TheCompanyCheck, GST records) |
| Authorized capital | INR 37,50,00,000 (₹37.5 Cr) — source: Tofler, Falconebiz, TheCompanyCheck (all agree) |
| Paid-up capital | INR 7,13,50,550 (₹7.14 Cr) — source: Tofler, Falconebiz, TheCompanyCheck (all agree) |
Business Overview
Confirmed- Boxseat Ventures Pvt Ltd is the legal entity behind "10Club", a Bengaluru-based e-commerce roll-up ("Thrasio-style") startup founded in October 2020 by Bhavna Suresh Chathambeth, Deepak Nair and Joel Ayala
- It acquired small, high-growth D2C/marketplace brands (early acquisitions in the home & garden space — Kraftseeds, Gate Garden, Kriti Kalash — per BusinessToday) to scale them 10x. In October 2023 it pivoted from a multi-brand roll-up model to a single consolidated consumer brand, "10club", focused on home & kitchen products, sold via 10club.team (redirects to 10clubhomes.com)
- By May 2025, amid vendor-payment and salary delays, the company's shareholders passed a special resolution to file for insolvency (Section 10, IBC) before NCLT Bengaluru
- media (Entrackr, YourStory, Inc42, Entrepreneur India) reported it as one of the first high-profile Indian roll-up failures
- The website is currently inaccessible, consistent with a deadpooled/wound-down operating business
Directors
Partial / conflicting| Name | DIN | Role | Appointed |
|---|---|---|---|
| Suresh Govindan Navaloor | 09168665 | Director, appointed 07 May 2021 source: Falconebiz, TheCompanyCheck. 2) Bhavna Suresh Chathambeth; Director/CEO & co-founder | 07 May 2021 |
GST Registrations
Partial / conflicting| GSTIN | State | PAN | Status |
|---|---|---|---|
| 29AAJCB8385R1ZH | Karnataka | AAJCB8385R — derived from GSTIN prefixes 29AAJCB8385R1ZH and 27AAJCB8385R1ZL (consistent across piceapp.com, mastersindia.co, fnshiftsolutions.com); not independently confirmed from an MCA filing, so treat as confirmed-by-cross-reference rather than primary-source confirmed | - |
| 27AAJCB8385R1ZL | Maharashtra | AAJCB8385R — derived from GSTIN prefixes 29AAJCB8385R1ZH and 27AAJCB8385R1ZL (consistent across piceapp.com, mastersindia.co, fnshiftsolutions.com); not independently confirmed from an MCA filing, so treat as confirmed-by-cross-reference rather than primary-source confirmed | - |
Primary GSTIN: 29AAJCB8385R1ZH (Karnataka), registered ~17 May 2021, principal place of business at the Indiranagar, Bengaluru registered address (source: piceapp.com, mastersindia.co — 2 sources agree). A second registration, 27AAJCB8385R1ZL (Maharashtra), is reported by a single source (fnshiftsolutions.com) and is unverified — flagged partial. PAN common to both: AAJCB8385R. Home state: Karnataka. Total number of state registrations and current GSTIN active/cancelled status: not obtained.
Financials
Partial / conflicting- Standalone entity financials (no consolidation applicable — single CIN)
- FY2024 (year ended 31 Mar 2024): Revenue ≈ ₹52.76 Cr, down ~17% YoY (source: TheCompanyCheck)
- Tofler independently bucketed FY2024 revenue at ₹50–75 Cr — broadly consistent
- FY2025 (year ended 31 Mar 2025): Tracxn buckets revenue at ₹10–50 Cr with 1-yr revenue CAGR of -9% and EBITDA CAGR of -23% (imprecise range, single source)
- EBITDA and PAT figures are paywalled/not disclosed on the sources checked
- Net worth: not obtained
- Auditor: JAA & Associates (FY2023, per TheCompanyCheck)
- Employee headcount fell from ~41 (Mar 2024, EPFO) to ~37 (Mar 2025) — consistent with the reported wind-down
Funding
Confirmed- Seed round: US$40 million, closed June 2021 — reported as one of the largest seed rounds in the South Asian startup ecosystem at the time
- Co-led by Fireside Ventures and an undisclosed international investor
- other participants named across Business Standard/YourStory coverage: HeyDay, PDS International, Class 5 Global, Secocha Ventures (Sanket Parekh), and angel investment from boAt co-founders Aman Gupta & Sameer Mehta
- A reported ~$30M Series A discussion with Olive Tree Capital in 2022 did not materialize (Entrackr)
- No further institutional rounds identified after the 2021 seed round
Charges & Borrowings
Partial / conflicting- TheCompanyCheck (single source) reports total open charges of ₹2.21 Cr, with the latest charge registered 28 Nov 2024 (holder listed only as "Others") and satisfied 05 May 2025 — the satisfaction date falls right around the reported NCLT insolvency filing
- No other charge/loan details or lender names obtained
- treat as partial
Legal & Insolvency
Confirmed- Indian Kanoon search for "Boxseat Ventures" returned zero case results (no litigation on record there)
- However, a significant corporate-insolvency event is well corroborated by multiple independent business-news outlets (Entrackr — exclusive report, YourStory, Inc42, Entrepreneur India, Moneylife, startupnews.fyi): shareholders of Boxseat Ventures Pvt Ltd passed a special resolution and filed for voluntary Corporate Insolvency Resolution Process (CIRP) under Section 10 of the Insolvency and Bankruptcy Code, 2016, before the NCLT, Bengaluru Bench, around May 2025, with Srilakshi Purushottam appointed as Interim Resolution Professional
- This should be treated as confirmed given the volume of independent corroborating coverage, even though it does not appear as a formal case citation on Indian Kanoon
Competitors
Confirmed- India's "Thrasio-style" e-commerce roll-up / house-of-brands peer set, all larger/more durable than 10Club to date: (1) Mensa Brands — Tiger Global-backed, reached unicorn status within 6 months of founding, ~₹310 Cr revenue in year one
- (2) GOAT Brand Labs — raised $50M, 20+ D2C acquisitions including Chumbak, The Label Life, trueBrowns
- (3) GlobalBees — Premji Invest/Steadview-backed multi-brand roll-up
- (4) Evenflow
- (5) Upscalio
- (6) Powerhouse91
- 10Club is broadly regarded as the smallest/least successful of this cohort, being the first among them to move toward formal insolvency (as of the May 2025 NCLT filing)
Frequently Asked Questions
What does BOXSEAT VENTURES PRIVATE LIMITED do?
Boxseat Ventures Pvt Ltd is the legal entity behind "10Club," a Bengaluru e-commerce roll-up that raised a landmark $40M seed round in 2021, pivoted to a single home-and-kitchen D2C brand in 2023, and filed for voluntary insolvency (NCLT, Section 10 IBC) around May 2025.
What is the CIN of BOXSEAT VENTURES PRIVATE LIMITED?
The Corporate Identification Number (CIN) of BOXSEAT VENTURES PRIVATE LIMITED is U51909KA2021PTC147248.
Where is BOXSEAT VENTURES PRIVATE LIMITED registered?
BOXSEAT VENTURES PRIVATE LIMITED is registered with RoC-Bangalore, Karnataka. Registered address: 461, 3rd Floor, Dongle Desk, Sri Krishna Temple Road, Binnamangala 1st Stage, Indiranagar, Bangalore North, Karnataka 560038 (source: Tofler, Falconebiz, TheCompanyCheck, GST records).
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