10Club embraces sports category with acquisition of Skudgear, a sports and fitness equipment brand
- ByStartupStory | October 2, 2021
Bengaluru-based 10Club has introduced its second acquisition – sports activities and health gear model Skudgear – and marked an entry into the sports activities class. 10Club, an e-commerce aggregator which is focused on improving small businesses on e-commerce platforms are now slowly shifting towards the sports industry. Skudgear is a well-known sports brand that has been founded by Raviteja Visakoti (IIM Kashipur Passout) along with his brother Rithish Visakoti. The duo has another brand together called Rapidotzz which manufactures smartwatch accessories.
10club will work with Ravi to build operational excellence, with robust systems for sourcing and forecasting, scaling volumes, digitizing warehouse operations, channel expansion and identifying potential areas of growth to expand the product portfolio.
Raviteja will join the 10club team full time as an Entrepreneur in Residence with a renewed vigour to grow and build his business to the $100 million brand he had dreamed of. 10club will focus its energies on building the brand alongside him, with the aim of making it a category leader and a valuable addition to its portfolio of brands.
Earlier this year, 10club raised a seed fund of $40 million, the largest seed fund round in India with participation from Fireside, HeyDay, PDS International, Class 5 Global, Secocha Ventures and founders of hardware startup boat being the other investors.
Elaborating on the acquisition, Deepak Nair, Co-Founder & COO at 10club said, “Ravi is an extremely passionate young entrepreneur who uses his analytical acumen and a deep understanding of consumer preferences to dominate the category he operates in. His vision of building a large business in the sports and fitness space is perfectly aligned to what we at 10Cub have outlined for this exciting category. We are extremely excited to have Ravi and his team to anchor this category along with the other acquisitions we have planned in the coming months.”
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