FirstClub, a members-only quick-commerce startup co-founded by former Flipkart SVP Ayyappan R, is in advanced discussions to raise $20 million (~₹170 crore) from current backers Accel and RTP Global, and newcomers like Paramark Ventures, according to Moneycontrol.
Valuation leaps sharply
With this fresh round, FirstClub’s valuation is set to climb to around $120–130 million, a marked increase from its $50 million valuation in December 2024.
Premium product strategy
The Bengaluru-based startup offers member-only, clean-label goods, including fresh produce, bakery items, dairy, and nutrition products, targeting the top 10% of Indian households earning beyond ₹15 lakh annually. Its super-premium positioning allows it to charge higher prices for quality-focused products.
Launched in mid-2025, FirstClub currently serves select neighborhoods like Sarjapur Road and Bellandur and plans to open 10 mini-warehouses and two offline hubs within its first year for faster deliveries.
Funds to fuel expansion
The fresh infusion of capital will primarily support growth into Delhi and Mumbai, scaling its logistics footprint and speeding up delivery infrastructure.
Backers double down on quick commerce
Accel’s continued backing signals confidence in FirstClub’s vision, adding to its investments in Swiggy and Swish. For Paramark Ventures, this marks the firm’s first bet in the rapidly growing quick-comm space. Early investors like Blume Founders Fund, Quiet Capital, and 2am VC are also likely to participate, showing strong support across the board.Moneycontrol
Key Highlights at a Glance
| Aspect | Detail |
|---|---|
| Funding Amount | $20 million (~₹170 crore) via convertible round |
| Valuation Update | Up to $120–130 million (from $50 million in Dec ’24) |
| Strategic Backers | Accel, RTP Global, Paramark Ventures (new) |
| Target Market | Top 10% Indian households with ₹15L+ annual income |
| Product Focus | Clean-label groceries, premium fresh produce |
| Expansion Plan | Bengaluru initial focus; expanding to Delhi, Mumbai |
| Logistics Strategy | 10 mini-warehouses + 2 offline hubs in Year 1 |
Final Thoughts
FirstClub’s $20 million (₹170 crore) round is a significant leap forward—bringing its valuation to fresh heights and validating its premium quick-commerce model. With a clear focus on high-income urban consumers and plans to enter new metros, FirstClub is gearing up to leverage the fast-moving quick-comm boom in India.
