FirstClub raises $23 Mn in Series A round at $120 Mn valuation

Quick-commerce startup FirstClub has raised $23 million in Series A funding led by Accel and RTP Global with participation from Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures. 

As per media reports, the round also includes a small debt component.

This funding has pushed the firm's valuation to $120 million, almost triple its value in December 2024 when it raised $8 million in its seed round from Accel and RTP Global. 

The proceeds will be used to expand operations, open more stores, and build new product lines.

Started in June 2025 by former Flipkart executive Ayyappan R, FirstClub runs on a quality-first model. Unlike Blinkit, Zepto, and Swiggy Instamart that compete on delivery speed, FirstClub focuses on selling only high-quality products.

The product basket includes food, fresh produce, dairy, bakery, FMCG, and nutrition. About 95% of items are sourced locally in India while 5% are imported. It also sells its own private-label goods. In future, it plans to include pet care, kids’ food, nutraceuticals, home care, and subscription services.

FirstClub now operates four dark stores in Bengaluru. It targets to grow to 35 stores in six months and reach every pincode in the city.

While the 2021–22 boom saw frequent consecutive rounds, FirstClub is among the few to repeat the trend now, raising two rounds in nine months. Slikk pulled off the same within two months earlier this year.