Bengaluru, September 04, 2025: Quick commerce startup FirstClub has raised $23 million (about INR 203 Cr) in a Series A round co-led by Accel and RTP Global at a valuation of $120 Mn (INR 1,050 Cr). The funding will support the company’s expansion into new cities, the addition of dark stores, the launch of cafés, and a hiring push across functions.
FirstClub’s Growth
Founded in 2024 by former Cleartrip CEO Ayyappan R, FirstClub positions itself as a member-first quick commerce platform focused on premium products. Unlike mass-market players in the segment, the company emphasizes exclusivity, claiming that nearly 60% of its catalog includes exclusive products not found elsewhere.
The platform currently offers more than 4,000 SKUs, spanning packaged foods, bakery, dairy, fresh produce, and nutrition products. Since its official launch in Bengaluru in June 2025, FirstClub has operationalized four dark stores and built a 185-member team to power operations.
FirstClub Raises $23 Mn Series A
The Series A funding round was co-led by Accel and RTP Global, with participation from Blume Founders Fund, 2am VC, Paramark Ventures, and Aditya Birla Ventures. The round follows FirstClub’s $8 Mn seed fundraise in December 2024.
FirstClub Funding
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- Series A Amount: $23 Mn (INR 203 Cr)
- Valuation: $120 Mn (INR 1,050 Cr)
- Previous Round: $8 Mn seed (December 2024)
- Founded: 2024 by Ayyappan R
The fresh funds will allow FirstClub to:
- Add 35 new dark stores within six months.
- Launch new fulfillment formats including cafés and subscription-based services.
- Expand into new categories such as kids’ food, pet food, nutraceuticals, home care, gifting, and furnishings.
- Ramp up hiring in engineering, operations, category, and marketing.
“Our early momentum — with 2X average order values compared to peers, 60% exclusive products, and high repeat rates — shows that India is ready for a new standard in retail,” said FirstClub founder and CEO Ayyappan R.
Quick Commerce Market Impact
The Indian quick commerce market has been expanding rapidly, driven by rising disposable incomes, consumer demand for convenience, and technology-led delivery models.
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Industry reports project the market to touch $40 billion by 2030, with consumer expectations moving beyond groceries to premium categories such as fashion, home care, and health products.
FirstClub’s focus on premium quick commerce differentiates it from mass players like Blinkit, Zepto, and Swiggy Instamart, which largely target grocery and essentials. By experimenting with cafés and subscription models, the company aims to build a hybrid commerce ecosystem blending instant delivery with consumer experiences.
Expert Insights on FirstClub’s Strategy
Analysts note that FirstClub’s positioning as a premium platform could allow it to tap into higher-margin categories. However, scaling dark stores while maintaining exclusivity may present operational challenges.
“Dark store expansion is capital-intensive, but combining it with experiential retail formats like cafés could create stronger brand recall,” said a Bengaluru-based venture capital analyst tracking consumer-tech investments.
Investors in the round highlighted FirstClub’s differentiated model. According to insiders, both Accel and RTP Global see the premium quick commerce segment as a long-term play, betting on India’s growing middle class and shift toward higher-value consumption.
Future Outlook for FirstClub
In the next eight weeks, FirstClub plans to launch additional fulfillment centers across Bengaluru with the aim of covering the city before Diwali. Beyond Karnataka, the company is expected to target metro expansions in Mumbai, Delhi-NCR, and Hyderabad over the next year.
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The introduction of cafés and subscription formats could create recurring revenue streams while enhancing customer engagement. Meanwhile, categories like pet food, nutraceuticals, and home care are expected to drive incremental demand from affluent households.
With its strong early traction, exclusive partnerships, and growing investor support, FirstClub is positioning itself as a premium alternative in India’s $40 Bn quick commerce market.
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